27 January 2005 – Atlanta (GA): Despite a slight drop in its Q4 sales, Newell Rubbermaid has reported a rise in its Q4 earnings.
Net income from continuing operations in Q4 was $124.1 million, or EPS of $0.45, compared to $4.4 million, or EPS of $0.02, posted 12 months earlier. Net sales fell 1 per cent to $1.81 billion.
The performance, said CEO Joe Galli, was proof that the company’s restructuring efforts over the past two years are paying off. He commented: "Our team had a great year in 2004. We delivered our earnings commitments, generated strong cash flow, completed our previously announced divestiture and restructuring plans, improved capital spending discipline and enhanced our portfolio.
"We have momentum moving into 2005. We are focused on further strengthening our portfolio and investing in new product development and brand building initiatives to position our company for long-term success."
