RYE, N.Y.–Jarden Corp. today reported a leap in profits for the first quarter ended March 31 to $4.7 million, up more than three-fold from the $1.4 million during the same period the year before.
That translated to a growth in earnings per share to 6 cents, up three times as much as the 2 cents in the year-ago period.
Although total sales grew more than 48 percent to $1.2 billion, home sales were down. At Jarden, home products are contained in the segment known as Consumer Solutions.
Martin E. Franklin, chairman and chief executive officer, said, “The top-line declines at Consumer Solutions and Branded Consumables were expected and, based on the programs in place for sell-in shipments during our busier quarters, we still anticipate that both these businesses will show organic growth in the second half and for the full year.”
Franklin praised the company’s overall performance, saying it was “a good start to achieving our full-year outlook.”