Newell Rubbermaid Q1 earnings up 23%
With its international business leading the way, Atlanta-based Newell Rubbermaid announced first quarter sales of $1.303 billion, down slightly from $1.306 billion in the same quarter last year.
Net income for the quarter was $75.7 million, up 23.4% from $58.4 million in the year-ago quarter.
With these numbers, Mark Ketchum, president and CEO said the year was off to a good start. “We remain confident in our ability to meet our full year guidance of 4% to 5% core sales growth, gross margin expansion of 50 to 75 basis points and normalized EPS growth of 10% to 12%," he said. "Our international businesses led the way, building on already strong momentum, with core sales growth of almost 5%. Developing markets, where we have substantially increased our focus and investment, grew double digits in the first quarter.”
Special mention was given to Irwin’s GrooveLock Pliers, which showed strong momentum, Ketchum said. At Lenox, an innovative hole saw with a slotted design for easy plug removal is expected to boost sales in the second quarter.
Other Newell Rubbermaid brands include Sharpie, Graco, Levolor and Paper Mate.
Behr recognized by Greenguard
Behr Process Corp. announced that two of its paint lines meet guidelines of the Greenguard Environmental Institute (GEI). Behr’s recently certified products include all Behr Premium Plus and Premium Plus Ultra interior paints, including the Behr Premium Plus interior/exterior high-gloss series.
"Behr is proud to offer high-quality, environmentally-safe professional products," said Joe Richardson, senior VP of professional products and services for Behr Process Corp. "With this certification, our customers can be assured that their clients will have healthier indoor air quality in their home or business environments."
According to the U.S. Environmental Protection Agency, The America Lung Association, and the World Health Organization, indoor pollution is one of the greatest risks to human health. Behr’s certified low-chemical emissions products meet both Greenguard Indoor Air Quality and Greenguard Children & Schools standards, helping minimize the release of indoor pollutants into the air, and creating healthier living environments. Both certification programs ensure that products designed for use indoors, including spaces where children often reside, meet strict chemical emissions limits.
Behr is a subsidiary of Masco Corp.
Stanley execs address Japanese supply chain
Nearly two months since the tragic Japanese earthquake and tsunami, the issue of power-tool supply-chain was raised during a Stanley Black & Decker conference call.
Stanley President and CEO John Lundgren said to the extent that there may be difficulties getting product from Japan, they would appear in the second quarter.
Last week, Stanley reported sales of $2.381 billion for the quarter ended April 2. The devastating Japanese earthquake hit March 11.
"The supply chain is longer than that," said Lundgren. "So any impact from Japanese producers shipping to the U.S., as a result of the difficulties in Japan, would not have shown up in first quarter numbers."
Jim Loree, executive VP and COO, added that most of Japan’s power tool production remains in Japan. And if it does flow to the United States, it probably flows from Chinese factories. "The final finished goods plants haven’t been impacted in any significant way from what we can tell, but we don’t know to what extent their supply chain might have been impacted," Loree added. "We know that ours is pretty much unharmed with one or two very, very small immaterial items here and there."
The CEO’s and COO’s responses were the result of a question from an analyst, who suggested that Japanese manufacturers were shipping less to the U.S., given the demand for tools in Japan.