Adjusted EBITDA, a non-GAAP measure, of $677.1 million in fiscal 2013 increased 1.3 percent compared to adjusted EBITDA in fiscal 2012 of $668.4 million, including HHI as if acquired by Spectrum Brands at the beginning of each fiscal year. Adjusted EBITDA in fiscal 2013 was $646.8 million, excluding the pre-acquisition earnings of HHI. Excluding the negative impact of foreign currency, adjusted EBITDA in fiscal 2013 increased 4.7 percent. Adjusted EBITDA as a percentage of net sales of 15.8 percent was unchanged from the previous year. For the fourth consecutive year, legacy Spectrum Brands delivered record adjusted EBITDA for fiscal 2013 of $495.5 million, a 2.1 percent increase compared to $485.3 million in fiscal 2012. Excluding the negative impact of foreign exchange of $19.2 million, legacy Spectrum Brands’ adjusted EBITDA for fiscal 2013 increased 6.1 percent versus the prior year. Adjusted EBITDA as a percentage of net sales for legacy Spectrum Brands in fiscal 2013 improved to a record level of 15.4 percent compared to 14.9 percent last year. Adjusted EBITDA is a non-GAAP measurement of profitability which the Company believes is a useful indicator of the operating health of the business and its trends.Fiscal 2013 Fourth Quarter Consolidated Financial Results
Spectrum Brands Holdings Reports Record Fiscal 2013 Results, Meets Or Exceeds Full Year Financial Guidance
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