Jarden Q3 Sales Rise, Stock Split Announced

Sales at Jarden Corporation were up 19% as the $2.14 billion in sales for third quarter ended Sept. 30 was the first time the company surpassed the $2 billion sales threshold in a third quarter.

According to the company, sales for the quarter exceeded the $1.8 billion for the same quarter the prior year. Net income was $108.6 million, up from $94.9 million in the previous year’s third quarter.

 “We are tracking towards our goal of increasing our adjusted segment earnings margin as we achieved both record third quarter segment earnings as well as operating earnings on both GAAP and adjusted basis,” said James E. Lillie, company CEO. “This quarter’s performance is indicative of our focus on achieving consistent, long-term, profitable growth.”

For the nine months ended Sept. 30, net sales were $5.85 billion, up 13.8% over the same period in 2013. Net income was $164.4 million compared to net income of $166.9 million for the same period the previous year.

In addition, Jarden officials announced that the company’s board of directors approved a 3-for-2 stock split of its current outstanding shares of common stock. Stockholders of record at the close of business on November 3, 2014, will receive one additional share of Jarden common stock for every two shares of Jarden common stock owned on that date. The additional shares are expected to be distributed on or about November 24, 2014.