Sales of branded goods lift Jarden 3Q profit and revenue; company plans 3-for-2 stock split

MarketsAssociated Press

Jarden Corp. (JAH) said Thursday its net income and revenue climbed in the third quarter as sales of branded products rose.

The owner of brands including Crock-Pot, Mr. Coffee, Coleman camping gear and Yankee Candle said its net income grew to $108.6 million, or 87 cents per share. Excluding one-time gains and costs, the company said its profit totaled $1.17 per share. Its revenue rose 19 percent to $2.14 billion in the period, as branded product sales increased 50 percent.

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Zacks Investment Research says analysts expected Jarden to report net income of $1.17 per share on $2.1 billion in revenue.

The Rye, New York, company also said it will conduct a three-for-two stock split in November. The move will increase its total share count 50 percent, to about 192.4 million shares. Investors of record as of Nov. 3 will get one additional share of Jarden for every two shares they own. The split will take effect Nov. 24.

Shares of Jarden rose $2.53, or 4.3 percent, to $61.51 in morning trading.

Jarden shares have declined roughly 4 percent since the beginning of the year. The stock has risen 12 percent in the last 12 months.