Gross margin increased 50 basis points versus prior year to 37.9 percent as pricing and productivity more than offset the negative impact of input cost inflation.Normalized operating margin for the quarter was 13.7 percent, flat to the prior year. Gross margin expansion was offset by an increase in SG&A expense as lower structural costs realized through Project Renewal initiatives were offset by higher strategic SG&A spending on a local currency basis and the absence of certain compensation-related benefits recognized in the prior year quarter. On a reported basis, operating margin for the quarter was 12.3 percent, compared with negative 12.4 percent last year. The prior year period included $382.6 million in asset impairment charges.
Newell Rubbermaid Reports Third Quarter 2012 Results And Reaffirms Full Year Guidance
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