Rubbermaid announces 4Q results
by MDJ staff
February 08, 2014 12:00 AM | 793 views | 0 0 comments | 18 18 recommendations | email to a friend | print
Newell Rubbermaid, which has an office at 1600 Wilson Way SE in Smyrna, announced its fourth quarter 2013 financial results. The fourth quarter executive summary included:

- Net sales of $1.49 billion or a 2.9 percent increase versus prior year results

- Core sales, which exclude the impact of changes in foreign currency, grew 4.4 percent.

- Normalized operating margin of 12.2 percent consistent with the prior year period. Reported operating margin increased 20 basis points.

- Normalized diluted earnings per share were 47 cents an increase of 9.3 percent versus the prior year period. Reported diluted earnings per share were 41 cents an increase of 17.1 percent versus the prior year period.

- Operating cash flow was $304.2 million versus $261.3 million in the prior year period.

- The company paid dividends of $42.0 million and purchased 9.4 million shares of common stock under the $350 million accelerated share repurchase program announced in October. The number of shares ultimately purchased under the program will be determined by a formula tied to the volume-weighted average share price of the company’s stock during the term of the program, expected to be completed no later than April 2014.

- The company provided initial guidance for 2014 core sales growth of 3 to 4 percent, operating margin improvement of up to 40 basis points, normalized EPS of $1.94 to $2 and operating cash flow of $600 to $650 million.

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