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Jarden Reports
Third Quarter 2007 Results

Jarden Corporation Press Release (excerpted) FlashlightNews.org - 11/01/2007

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Parent company of Coleman reports 28% net sales increase, lower net income for quarter


Coleman Flashlight Set

Coleman Flashlight Set

RYE, N.Y. - Jarden Corporation (NYSE: JAH) today reported its financial results for the three and nine months ended September 30, 2007.

For the three months ended September 30, 2007, net sales increased 28% to $1.3 billion compared to $1.0 billion for the same period in the prior year. Net income was $21.2 million, or $0.28 per diluted share, for the three months ended September 30, 2007, compared to $51.3 million, or $0.78 per diluted share, for the three months ended September 30, 2006. On a non-GAAP basis, as adjusted net income was $70.3 million, or $0.94 per diluted share for the three months ended September 30, 2007, compared to $58.9 million, or $0.90 per diluted share, for the three months ended September 30, 2006. Please see the schedule accompanying this release for the reconciliation of GAAP to non-GAAP net income and diluted earnings per share.

For the nine months ended September 30, 2007, net sales increased 15% to $3.2 billion compared to $2.8 billion for the same period in the prior year. Net income was $39.3 million, or $0.54 per diluted share, for the nine months ended September 30, 2007, compared to $70.3 million, or $1.07 per diluted share, for the nine months ended September 30, 2006. On a non-GAAP basis, as adjusted net income was $142.9 million, or $1.97 per diluted share for the nine months ended September 30, 2007, compared to $114.5 million, or $1.74 per diluted share, for the nine months ended September 30, 2006. Please see the schedule accompanying this release for the reconciliation of GAAP to non-GAAP net income and diluted earnings per share.

Martin E. Franklin, Chairman and Chief Executive Officer commented, "Our diversified portfolio of market leading brands drove record sales of $1.3 billion and enabled Jarden to report a strong bottom line performance during the third quarter, despite the anticipated pressure on the top line resulting from the tougher retail environment. Our as adjusted fully diluted EPS of $0.94 was a record for the third quarter; including the FAS 123R charge we would have reported an $0.80 adjusted fully diluted EPS. Specialty and International continued to drive our gross margins and the addition of the K2 businesses during the quarter were an immediate benefit, with a stronger than anticipated start to the ski sell-in season.

With positive cash flow during the quarter, we are on track to achieve our target of approximately $300 million of cash flow from operations in 2007. We are maintaining a disciplined approach to margins in what we believe will continue to be an inflationary cost environment, coupled with a tight retail market. We believe that our focus on being the low cost supplier and number one brand in most of the markets we serve should further differentiate us from our competitors and allow us to continue delivering long-term value for our shareholders."

About Jarden Corporation

Jarden Corporation is a leading provider of niche consumer products used in and around the home. Jarden operates in three primary business segments through a number of well recognized brands, including: Branded Consumables: Ball®, Bee®, Bicycle®, Crawford®, Diamond®, Dicon®, First Alert®, Forster®, Hoyle®, Java Log®, Kerr®, Lehigh®, Leslie- Locke®, Loew-Cornell® and Pine Mountain®; Consumer Solutions: Bionaire®, Crock-Pot®, FoodSaver®, Harmony®, Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White Mountain™; and Outdoor Solutions: Abu Garcia®, Berkley®, Campingaz®, Coleman®, Fenwick®, Gulp®, JT®, K2®, Marker®, Marmot®, Mitchell®, Penn®, Rawlings®, Shakespeare®, Stearns®, Stren®, Trilene®, and Volkl®. Headquartered in Rye, N.Y., Jarden has over 25,000 employees worldwide. For more information, please visit www.jarden.com.

To view the entire report, go to: Jarden News Releases.





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