News

Spectrum Brands Reports Second-Quarter 2005 Results

May 04, 2005 by Jeff Shepard

Spectrum Brands Inc. (Atlanta, GA), formerly known as Rayovac Corp. (Madison, WI), announced a fiscal 2005, second-quarter, fully diluted loss per share of $0.04, compared with diluted earnings per share of $0.08 for the comparable period last year. Second-quarter 2005 pro-forma diluted earnings per share were $0.51, a 168% improvement compared with 2004 second-quarter pro-forma diluted earnings per share of $0.19.

The fully diluted net loss per share included a $0.39 per share charge related to inventory revaluation and a $0.16 charge related to the write-off of debt issuance costs, both charges associated with Spectrum Brands’ second-quarter acquisition of United Industries.

Second-quarter net sales were $534.5 million, as compared to $278.0 million for the same period last year, in large part due to the inclusion of results from our acquisitions of United Industries and its Brazilian battery business. United contributed $228.0 million to net sales during the eight-week period included in second-quarter results.