Operating earnings for Jarden Corporation’s Outdoor Solutions unit, made up of Coleman, K2 and Pure Fishing, rose by 132 percent to $74.8 million for the quarter ended June 30. Revenues were 70 percent higher than the same period last year at $708.6 million, but on a pro forma basis, excluding acquisitions, segment sales were essentially flat.
Overall, Jarden reported net income for the quarter of $43.0 million compared with $16.7 million. Total sales grew by 29.5 percent to $1,360.0 million, with an organic increase of about 4 percent that came for the most part from outside the USA.
Within the Outdoor Solutions segment, Jarden said Coleman’s organic revenues were up about 1 percent in the period and that the fishing tackle business, which suffered from bad weather in June, picked back up in July. The integration of K2 and Pure Fishing is described as “continuing to go well” with cost savings to exceed $50 million within two years of the close of the K2 deal. K2 has a “strong” order book for the upcoming season, management said.
In the third quarter, the company will roll out new innovative products, including LED flashlights from Coleman and a collection of technical apparel from Marmot.
