Due entirely to $122.2 million of costs and expenses related to the extinguishment of $950 million of senior secured notes, the Company reported a GAAP net loss of $36.7 million, or $0.70 diluted loss per share, for the fourth quarter of fiscal 2013 on average shares and common stock equivalents outstanding of 52.2 million. In the fourth quarter of fiscal 2012, the Company reported GAAP net income of $5.5 million, or $0.10 diluted income per share, on average shares and common stock equivalents outstanding of 53.1 million. Adjusted for certain items in both years’ fourth quarter, which are presented in Table 3 of this press release, the Company generated adjusted diluted earnings per share of $0.88 in the fourth quarter of fiscal 2013, an increase of 6.0 percent compared to $0.83 last year.Adjusted EBITDA of $184.7 million in the fourth quarter of fiscal 2013 increased 3.3 percent compared to $178.8 million a year ago, including HHI in the prior year period on a pro forma basis. Legacy Spectrum Brands adjusted EBITDA of $130.3 million in the fourth quarter of fiscal 2013 increased 3.6 percent versus the prior year and represented the 12 th consecutive quarter of year-over-year adjusted EBITDA growth, starting with the first quarter of fiscal 2011. Excluding the negative impact of foreign exchange of $8.3 million, legacy Spectrum Brands’ adjusted EBITDA in the fourth quarter of 2013 increased 10.2 percent versus $125.8 million in the prior year. Adjusted EBITDA as a percentage of net sales for legacy Spectrum Brands in the fourth quarter improved to 15.4 percent compared to 15.1 percent last year.
Spectrum Brands Holdings Reports Record Fiscal 2013 Results, Meets Or Exceeds Full Year Financial Guidance
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