With acquisitions, Jarden’s Q4 net sales jump 21 percent
Jarden (NYSE: JAH) reported record sales for the fourth quarter and full-year 2010 figures, attributing the growth to recent acquisitions, but organic growth as well.
The parent company of K2, Marker, Marmot, Coleman and Volkl reported net sales of $1.68 billion for the fourth quarter 2010, up 21 percent from $1.4 billion a year ago. Full-year 2010 net sales rose 17 percent to $6 billion, compared to $5.2 billion in 2009.
The record growth included several recent acquisitions, including Coleman’s October 2010 purchase of Aero Products International, makers of Aerobed air-filled mattresses.
Excluding the impacts of acquisitions and foreign exchange, Jarden officials said organic net sales growth was about 7 percent for both the fourth quarter and full-year results, which beat company expectations of 3 percent to 5 percent growth.
Jarden’s net income for the fourth quarter ended Dec. 31 was $46.7 million, or $0.52 a share, compared with $1.2 million, or $0.01 per share, last year. Excluding special items, Jarden said it earned $0.86 a share.
For full-year 2010, net income was $107 million, or $1.19 per diluted share, compared to net income of $129 million, or $1.52 per diluted share, in 2009.
Shares closed at $34.35, down $0.13, or 0.38 percent, on Feb. 16.
–Compiled by David Clucas
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