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updated 23:42, Tue October 30, 2007

Jarden Net Income Declines in 3rd Quarter, Hurt by Costs Related to an Acquisition

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RYE, N.Y. (AP) -- Consumer-products maker Jarden Corp. on Tuesday said third-quarter profit fell 59 percent, hurt by costs related to an acquisition, but adjusted results beat analyst expectations.

Jarden, which makes products under brand names Sunbeam, Coleman, Mr. Coffee and others, said quarterly net income fell to $21.2 million, or 28 cents per share, from $51.3 million, or 78 cents per share, in the prior-year quarter.

Excluding a broad range of items, like reorganization and integration costs and expenses for stock-based compensation, adjusted earnings were 94 cents per share, or 80 cents per share including the stock-option expense.

Analysts polled by Thomson Financial predicted a profit of 70 cents per share, including the stock-option expense.

Revenue rose 28 percent to $1.32 billion, from $1.03 billion last year.

Analysts predicted revenue of $1.34 billion.

SunTrust Robinson Humphrey analyst William Chappel said in a note to investors that results beat expectations due to higher revenue and lower selling, general and administrative expenses.

"The consumer solutions segment, with sales of $540.1 million, led the revenue upside as concerns about a slowdown in consumer spending look to be overblown when it comes to coffee makers and blenders," Chappel wrote. "Additionally, the company indicated that the addition of K2 and a stronger than anticipated sell-in for the ski season led to strong results in outdoor solutions."

Shares rose 60 cents to $34.70 during morning trading.

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