The Newell Professional segment posted third quarter net sales of $535.4 million, a 1.1 percent decline from the prior year. Core sales growth for the segment was 2.5 percent against very strong core sales growth in the year ago period of 7.5 percent. Year-to-date core sales growth in this segment was 4.3 percent. The Commercial Products global business unit contributed to strong Professional core sales in North America and Latin America. Core sales in Europe, Australia and New Zealand came in below expectations, as order patterns slowed due to macroeconomic pressures. The segment’s normalized operating income was $70.6 million, or 13.2 percent of sales, as compared with $84.5 million, or 15.6 percent of sales, in the prior year. The decline in operating margin reflects the sustained investment in selling and marketing resources in our Win Bigger Professional businesses as well as sourced goods inflation.Third quarter net sales in the Baby & Parenting segment were $185.3 million, a 5.2 percent improvement over the prior year. Core sales increased 7.8 percent, driven by continued strong performance by the Graco ® brand in North America and the Aprica ® brand in Japan. Year-to-date, the Baby & Parenting segment generated 11.2 percent core sales growth. Third quarter normalized operating income was $18.3 million, or 9.9 percent of sales, compared with $17.7 million, or 10.0 percent of sales, in the prior year.
Newell Rubbermaid Reports Third Quarter 2012 Results And Reaffirms Full Year Guidance
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