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Spectrum Brands Reports Fiscal Q4, Year-End Results

Thursday November 21st, 2013 - 9:48AM

Spectrum Brands Holdings, Inc. today announced fiscal-year net sales of $4.09 billion, including its acquired HHI business, an increase of 25.6% for fiscal 2013 versus $3.25 billion a year ago. Including HHI on a pro forma basis for all of both fiscal 2013 and fiscal 2012, net sales increased 1.2% and 1.7% excluding the negative impact of foreign exchange, according to the company.

For the fourth quarter of fiscal 2013 the company reported net sales of $1.14 billion, an increase of 4.4% compared to the comparable year-earlier period, including HHI on a pro forma basis for the prior year period. The company’s legacy Spectrum Brands, which excludes HHI, reported a 1.4% increase in fiscal 2013 fourth quarter net sales, and 2.1% excluding the negative impact of foreign exchange.

"We're pleased to report record performance for fiscal 2013, including a strong finish with solid growth in the fourth quarter," said Dave Lumley, Spectrum Brands Holdings’ CEO. "HHI has delivered better-than-expected results since its December 17, 2012 acquisition, and its integration into Spectrum Brands has been smooth and is essentially complete, months ahead of schedule. Our Global Pet and Home and Garden businesses reported record years, while Europe was a particularly bright spot in fiscal 2013.