Published February 01, 2013
Newell Rubbermaid (NWL) reported better-than-expected fourth-quarter earnings on Friday, fueled by success of core brands in emerging markets like Latin America.
The Atlanta-based maker of a slew of consumer and commercial products including Paper Mate pens and Sharpie markers posted net income of $168 million, or 48 cents a share, compared with a year-earlier profit of $156 million, or 42 cents.
Excluding special items, Newell Rubbermaid said it earned 43 cents, topping average analyst estimates in a Thomson Reuters poll by a penny.
Revenue for the three months ended Dec. 31 was $1.52 billion, up 1.6% from $1.49 billion a year ago, matching the Street’s view.
“Our solid fourth quarter financial results represent the sixth consecutive quarter of consistent delivery in line with or better than expectations,” said Newell CEO Michael Polk.
The performance came despite continued challenges in Europe and in its décor business, as core brands gained sales momentum in emerging markets.
Looking toward fiscal 2013, Newell Rubbermaid sees sales growth between 1% and 3% on EPS of $1.78 to $1.84, which represents a year-over-year improvement of 5% to 8%.
Analysts on average are calling for full-year earnings of $1.82.