Newell Rubbermaid To Reaffirm Fiscal Year 2012 Outlook At Barclays Capital Back-to-School Consumer Conference

Newell Rubbermaid Inc. (NYSE: NWL) announced it will reaffirm its fiscal year 2012 outlook, as provided in its second quarter 2012 earnings press release dated July 27, 2012, at the Barclays Capital Back-to-School Consumer Conference. The company maintains its full year expectation for core sales growth of 2 to 3 percent, which excludes a projected negative impact on net sales of 2 percentage points from currency. The company continues to expect 2012 normalized operating margin improvement of up to 20 basis points and 2012 normalized earnings per diluted share of between $1.63 and $1.69. The operating cash flow outlook is unchanged at between $550 and $600 million for the full year, including approximately $110 to $120 million in restructuring and restructuring related cash payments. The company anticipates capital expenditures of $200 to $225 million during the year.
 

A reconciliation of the 2012 earnings outlook is as follows:
 
FY 2012
 
Diluted earnings per share $1.28 to $1.34
 
Restructuring and restructuring-related costs $0.27 to $0.32
 

Certain tax contingencies and other non-cash tax charges associated with the European Transformation Plan
$0.06
 

“Normalized” EPS

$1.63 to $1.69
 

President and Chief Executive Officer Michael Polk will present at the conference today at 9:00 a.m. ET. He will provide an overview of the company’s Growth Game Plan strategy, which is designed to accelerate growth through a sharper focus on the businesses with the greatest right to win and a strengthened set of growth capabilities. Newly appointed Executive Vice President and Chief Financial Officer Doug Martin will also be in attendance.

The presentation will be webcast live and may be accessed through Events & Presentations in the Investor Relations section of the Newell Rubbermaid website at www.newellrubbermaid.com. The webcast will be archived and available for replay for 90 days.

About Newell Rubbermaid

Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2011 sales of approximately $5.9 billion and a strong portfolio of leading brands, including Rubbermaid ®, Sharpie ®, Graco ®, Calphalon ®, Irwin ®, Lenox ®, Levolor ®, Paper Mate ®, Dymo ®, Waterman ®, Parker ®, Goody ®, Rubbermaid Commercial Products ® and Aprica ®.

This press release and additional information about Newell Rubbermaid are available on the company’s Web site, www.newellrubbermaid.com.

Non-GAAP Financial Measures

This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release is a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP.

Caution Concerning Forward-Looking Statements

Statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking statements relate to information or assumptions about the effects of sales, income/(loss), earnings per share, operating income, operating margin or gross margin improvements or declines, the European Transformation Plan, Project Renewal, capital and other expenditures, cash flow, dividends, restructuring and restructuring-related costs, costs and cost savings, inflation or deflation, particularly with respect to commodities such as oil and resin, debt ratings, and management's plans, projections and objectives for future operations and performance. These statements are accompanied by words such as "anticipate," "expect," "project," "will," "believe," "estimate" and similar expressions. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, our dependence on the strength of retail, commercial and industrial sectors of the economy in light of the continuation or escalation of the global economic slowdown or regional sovereign debt issues; currency fluctuations; competition with other manufacturers and distributors of consumer products; major retailers' strong bargaining power; changes in the prices of raw materials and sourced products and our ability to obtain raw materials and sourced products in a timely manner from suppliers; our ability to develop innovative new products and to develop, maintain and strengthen our end-user brands; our ability to expeditiously close facilities and move operations while managing foreign regulations and other impediments; our ability to implement successfully information technology solutions throughout our organization; our ability to improve productivity and streamline operations; changes to our credit ratings; significant increases in the funding obligations related to our pension plans due to declining asset values, declining interest rates or otherwise; the imposition of tax liabilities greater than our provisions for such matters; the risks inherent in our foreign operations and those factors listed in the company’s most recently filed Quarterly Report on Form 10-Q and Exhibit 99.1 thereto, filed with the Securities and Exchange Commission. Changes in such assumptions or factors could produce significantly different results. The information contained in this news release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments.

NWL-EA

Copyright Business Wire 2010

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