This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Jarden's CEO Discusses Q1 2012 Results - Earnings Call Transcript

We also showcased a new line of pet care and grooming products under the Sunbeam brand. We consistently invested in our brands and in new technologies and expect to realize benefits in the current year and over the next several years.

Ongoing efforts to expand internationally include in the near term a focus on increasing the utilization of our existing distribution platforms globally to bring a broader product offering to under penetrated markets. We are also focusing on longer-term opportunities to establish more a meaningful presents, whether organically or through acquisitions, in markets that represent potential higher growth opportunities for Jarden, such as in Brazil, China and South East Asia.

Secondly, we continue to seek to optimize the use of our excess cash beyond amounts needed for investments in our existing businesses and after evaluating several alternatives, we determined that our own company represented the most attractive investment opportunity during the first quarter.

Following our announcement in January, the launch of our modified Dutch self-tender offer, in March we advanced our shareholder value creation goals through the successful completion of the $435 million buyback at $36 per share. As previously announced, 12.1 million shares representing approximately 13.2% of our shares issued and outstanding prior to the consummation of the tender offer were tendered. A the quarter end we had approximately $65 million remaining of the total $500 million approved by our Board of Directors, for use under our ongoing share repurchase program.

And third we proactively managed our capital structure by opportunistically accessing the debt capital markets. In February we successfully completed a $300 million add-on the our existing senior secured facility, to partially fund our tender offer with a view to maintaining a conservative long-term debt maturity profile, while maintain our target bank leverage ratio of 3:1 or less by year end.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,968.04 +255.38 1.44%
S&P 500 2,079.60 +18.58 0.90%
NASDAQ 4,922.6210 +31.4020 0.64%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs