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.
