Consumer Products operating income increased to $95 million in the third quarter from $79 million in the same period of Fiscal 2011, representing a year on year increase of 21% driven primarily by higher sales and efficiency gains. Consumer Products delivered record adjusted EBITDA of $133 million, up 4% year-on-year (or 12% excluding the negative impact of foreign exchange).The small appliances, pet supplies, home and garden control products, electric shaving and grooming products, and electric personal care products all reported higher revenues in the third quarter compared to the previous year, and sales growth excluding the negative impact of foreign exchange was 6%. Growth was strongest in pet supplies and home and garden product lines, which reported year-on-year sales increases of 9% and 7% respectively, helped by gains due to the FURminator and Black Flag acquisitions and growth in higher margin products. Battery sales decreased 4% due to negative foreign exchange impacts and weaker North America sales tempered by increases in Latin America and Europe.
Harbinger Group Inc. Reports $1 Billion In Revenues For Third Quarter Fiscal 2012 On Continued Progress At Operating Subsidiaries
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