Tupperware's Fourth-Quarter Profit Climbs 20%

Orlando, Fla. -- Tupperware Brands (TUP Quote) said its fourth-quarter profit climbed 20%, partly helped by gains from insurance recoveries.

The company, however, provided a 2009 outlook below Wall Street's expectations.

The food-storage container maker reported net income rose to $65.8 million, or $1.06 per share, compared with $54.9 million, or 88 cents per share, a year earlier.

Quarterly results included a $22.2 million gain from an insurance recovery related to a 2007 South Carolina warehouse fire and some smaller insurance recoveries.

Excluding 16 cents per share related to the insurance recoveries and other items, profit was 90 cents per share. That topped the company's own adjusted earnings guidance provided in October, as well as analysts' average earnings estimate of 78 cents per share.

In October, Tupperware projected it would earn between 79 cents and 84 cents per share excluding one-time expenses during the fourth quarter.

Revenue fell 10% to $521.7 million from $576.9 million for the period ended Dec. 27 due to a stronger U.S. dollar.

Sales from emerging markets rose 11% in local currency.

Chairman and Chief Executive, Rick Goings said in a statement, "We were pleased to hold our own in the fourth quarter in light of the difficult external environment."

Tupperware, made famous by plastic containers and parties for stay-at-home moms, has diversified under Goings into a beauty products seller, particularly in emerging markets. The Orlando, Fla.-based company also sells high-end kitchenware and other products.

Full-year earnings grew 38% to $161.4 million, or $2.56 per share, compared with $116.9 million, or $1.87 per share, in the prior year. Adjusted earnings were $2.69 per share.