15736 Tue, 12/09/2008 - 12:48pm
RYE, N.Y.–Jarden said it expects its fourth-quarter revenue to total about $1.3 billion, which would be more than 11 percent below its fourth-quarter revenue of 2007.
If the consumer-products giant’s projection comes to pass, its total revenue for all of 2008 would be about $5.3 billion, or about 14 percent ahead of 2007. In a statement released this morning, Jarden said it also expects 2009 total revenue to exceed $5 billion. Also, recent declines in raw-material commodity costs should improve the company’s margins in the second half of next year.
Noting that Jarden normally doesn’t provide guidance on its short-term financial performance, Martin Franklin, chairman and chief executive officer, said the company decided to comment on this guidance because of “the exceptional macroeconomic environment and the changes that have occurred within the market over the past several months.”
In the statement, Jarden said the lower fourth-quarter sales would come about because of the shrinkage in the markets for its broad product assortment and the overall declines in the retail market. The company also expects that international sales would present a dropoff due to the changing value of the U.S. dollar.