Spectrum Brands Q4 Profit Drops; Sales Climb 11%

(RTTNews) - Spectrum Brands Holdings, Inc. (SPB), a global consumer products company, Thursday said its fourth-quarter attributable income decreased to $26.5 million from $47.9 million. Earnings per share fell to $0.44 from $0.90.

Adjusted earnings per share were $1.13, while it totaled $0.98 last year. On average, nine analysts polled by Thomson Reuters expected earnings of $1.16 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 11 percent to $1.308 billion from last year's $1.178 billion. Analysts expected revenues of $1.33 billion.

Looking ahead, Spectrum Brands expects fiscal 2016 net sales, as reported, to increase in the high-single digit range compared to fiscal 2015 reported net sales of $4.69 billion. Analysts look for full-year sales of $5.12 billion.

This includes the positive impacts of the acquisitions of the European pet food business on December 31, 2014, Salix Animal Health on January 16, 2015 and Armored Auto Group on May 21, 2015, along with an anticipated negative impact from foreign exchange of approximately 200 to 220 basis points based on current spot rates.