Rayovac Reports Surge in Quarterly Earnings Estimate

Rayovac Corp. (Madison, WI) reported that its shares rose after it said it expects to surpass its previous quarterly earnings estimate. Rayovac's stock rose $1.78, or 8.6%, to $22.48 in trading volume of 586,000 shares.

Rayovac stated that its fiscal first-quarter earnings would total $0.62 to $0.65 per share, $0.04 to $0.07 above previous estimates. The company attributed the increase to stronger-than-expected sales growth, the strength of the Euro, introduction of new products by the Remington unit acquired in September, and an improved Latin American business climate.