30 January 2007 — Atlanta (GA): Newell Rubbermaid has reported Q4 earnings of $102.2 million, or EPS of $0.37, compared to a profit of $77 million, or EPS of $0.28 cents, a year earlier.
The company attributes the 32.7 percent rise in Q4 profit to a solid gain in sales.
Excluding one-time items, the company said it earned $104.2 million, or EPS of $0.38, beating analysts’ expectations of $0.37.
Q4 revenue increased by 3.5 percent to $1.64 billion, compared to revenue of $1.58 billion last year.
During fiscal 2006, Rubbermaid earned $385 million, or EPS of $1.40, compared to a profit of $251.3 million, or EPS of $0.91, during fiscal 2005.
Mark Ketchum, president and CEO, said: "Through the hard work of our employees, we made tremendous progress generating sustainable sales growth, expanding gross margin and optimising our portfolio."
He continued: "We will build on these accomplishments in 2007 as we continue our multi-year transformation into a global consumer products company with world class talent and processes, best total cost position and brands that matter to the consumer."