Jarden’s 3Q outdoor sales drop 7 percent
Jarden reported its outdoor revenue down 7 percent to $657.6 million for the third quarter 2012. Operating income for the outdoor sector remained in the black at $66.4 million, but came in less than the $83.7 million profit a year ago.
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For the past couple of years, outdoor gear and apparel sales have fueled gains at diversified conglomerates such as Jarden Corp., whose holdings include outdoor brands Marmot, Coleman, K2 and ExOfficio.
The streak is coming to an end as last year’s lack of winter catches up with manufacturers.
Jarden reported its outdoor revenue down 7 percent to $657.6 million for the third quarter 2012. Operating income for the outdoor sector remained in the black at $66.4 million, but came in less than the $83.7 million profit a year ago.
Companywide, Jarden reported its third-quarter revenue down nearly 4 percent to $1.71 billion, while its quarterly net income slipped to $76.9 million or $1 per diluted share, versus $90.7 million, or $1.03 per diluted share, a year ago.
Officials remained upbeat, pointing to a still positive year-to-date with overall company revenue up 1.2 percent to $4.94 billion for the nine months through Sept. 30. This is despite Jarden’s year-to-date outdoor sales now lagging behind 2011, down 3.8 percent to about 2.1 billion for the first three quarters.
“Notwithstanding the year-over-year, weather-related revenue impact … we remain on track to exceed last year’s strong cash flow performance in 2012,” Jarden CEO James E. Lillie said.
