The segment recorded fiscal 2013 fourth quarter net income, as adjusted, of $18.7 million versus $11.9 million in the prior year’s quarter. Record fourth quarter adjusted EBITDA of $21.8 million increased 26.0 percent versus $17.3 million a year ago due to increased gross profit from higher net sales coupled with lower operating costs as a result of expense management initiatives. The adjusted EBITDA margin as a percentage of net sales in the fourth quarter improved to 21.5 percent compared to 20.1 percent last year.Strong fourth quarter results enabled the Home and Garden segment to achieve record annual net sales of $390.6 million and record annual adjusted EBITDA of $90.1 million in fiscal 2013, resulting in a record annual adjusted EBITDA margin of 23.1 percent.
Spectrum Brands Holdings Reports Record Fiscal 2013 Results, Meets Or Exceeds Full Year Financial Guidance
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