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TheStreet Open House

Jarden's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Please note that the company has posted supplemental financial data slides, as well as reconciliations of certain non-GAAP to comparable GAAP financial measures to its website. The presentation can be downloaded in the section For Investors on Jarden’s website under the Presentations heading.

And now, I would like to turn the call over to Executive Chairman, Martin Franklin. Martin, please go ahead.

Martin Franklin

Thank you, Rachel. Good morning and thank you for joining us to discuss our second quarter and first half fiscal 2012 results. Hopefully, you have had a chance to review our second quarter earnings release issued earlier this morning. With me on the call today are Ian Ashken, our Vice Chairman and Chief Financial Officer; and Jim Lillie, our Chief Executive Officer.

We are pleased to report another record sales and earnings quarter, which continued our positive momentum from the first quarter of the year. Our consistent ability to achieve and many times exceed expectations clearly demonstrates the strength of our diversified business model. The seasonal staple, or consumable nature of many of our products that we offer and most importantly the loyalty consumers have to our brands. These factors combined with our operating businesses, ability to continue to execute from both our targeted growth initiatives, as well as our cooperation, allowed us to successfully navigate the continuing economic challenges and deliver a solid performance during the quarter.

Ian and Jim will discuss the specifics of our operational performance, but I wanted to comment on how pleased I am that Jarden continues to deliver on its financial goals while maintaining a strong balance sheet. Our focus on working capital management resulted in Jarden reporting a second highest cash flow from operations for any second quarter only exceeded by the exceptional cash flow we produced in 2009. The driver of our consistent profitable growth in the quarter was our continued ability to optimize the performance of our existing businesses, as we did not complete any acquisitions or undertake any meaningful capital markets activity.

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