Hardware & Home ImprovementThe Hardware & Home Improvement (HHI) business, the Company’s new reporting segment as of its acquisition on December 17, 2012, recorded net sales of $34.0 million, a net loss, as adjusted, of $3.5 million, and adjusted EBITDA of $3.2 million for the first quarter of fiscal 2013. Adjusted EBITDA was negatively impacted by a $1.6 million accrual adjustment necessary due to a change in contractual terms relative to product returns with a large retailer. The final several weeks of the calendar year, which in 2012 included only eight working days due to holidays, are typically a seasonally low period and not representative of a full year of HHI results.
Spectrum Brands Holdings Reports Record Fiscal 2013 First Quarter Results, Reiterates Outlook For Fourth Consecutive Year Of Record Performance From Legacy Business
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.