“Of particular note is our 11 th consecutive quarter of year-over-year adjusted EBITDA growth for legacy Spectrum Brands, a record that dates to the first quarter of fiscal 2011,” Mr. Lumley said. “Focused spending, strong control of variable costs, increased savings from continuous improvement programs across all divisions globally, and growth in Europe helped the legacy business offset negative foreign currency impacts and difficult macro-economic conditions to deliver a 2.3 percent increase in adjusted EBITDA, and 3.9 percent on a constant currency basis. Legacy Spectrum Brands’ adjusted EBITDA margin in the third quarter also grew to a record quarterly level of 16.8 percent.“It is important to note that this record quarterly profitability and margin performance was achieved even as we continue to make important, timely and major investments in Remington personal care consumables, global e-commerce, battery performance and production, and HHI new product development and marketing, all of which will help drive future growth.
Spectrum Brands Holdings Reports Record Fiscal 2013 Third Quarter Results
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