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
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