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Jarden expects 4Q revenue to beat prior guidance
Jarden (NYSE: JAH) reported that its fourth-quarter revenue will beat its prior guidance by a narrow margin, and is predicting that its year-end cash position will be enough to meet debt obligations in 2009.
Previously, the company projected fourth-quarter revenue of $1.3 billion.
For the full year, the company expects revenue of about $5.35 billion. In December, it projected that revenue would exceed $5 billion.
Jarden also projected that it will finish the year with more than $360 million of cash on its balance sheet.
“Our businesses continued to deliver in the fourth quarter despite the challenges in the macro environment and we believe we are well positioned for 2009,” said Chairman and CEO Martin Franklin in a statement.
Franklin also added that a snowy December have helped winter sport sales.
Jarden, parent of Coleman, K2, Marmot and Marker, among others, is scheduled to report its fourth-quarter and full-year results on Feb. 12.
–Compiled by Wendy Geister
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