Newell Rubbermaid Inc. (NYSE: NWL) announced it will reaffirm its fiscal year 2012 outlook, as provided in its second quarter 2012 earnings press release dated July 27, 2012, at the Barclays Capital Back-to-School Consumer Conference. The company maintains its full year expectation for core sales growth of 2 to 3 percent, which excludes a projected negative impact on net sales of 2 percentage points from currency. The company continues to expect 2012 normalized operating margin improvement of up to 20 basis points and 2012 normalized earnings per diluted share of between $1.63 and $1.69. The operating cash flow outlook is unchanged at between $550 and $600 million for the full year, including approximately $110 to $120 million in restructuring and restructuring related cash payments. The company anticipates capital expenditures of $200 to $225 million during the year.
A reconciliation of the 2012 earnings outlook is as follows:
|Diluted earnings per share||$1.28 to $1.34|
|Restructuring and restructuring-related costs||$0.27 to $0.32|
Certain tax contingencies and other non-cash tax charges associated with the European Transformation Plan
$1.63 to $1.69
President and Chief Executive Officer Michael Polk will present at the conference today at 9:00 a.m. ET. He will provide an overview of the company’s Growth Game Plan strategy, which is designed to accelerate growth through a sharper focus on the businesses with the greatest right to win and a strengthened set of growth capabilities. Newly appointed Executive Vice President and Chief Financial Officer Doug Martin will also be in attendance.
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