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Article: SPECTRUM RESULTS EDGE ANALYSTS' PROJECTIONS.(BUSINESS)(MARKET MEMO)(Column)
- Article from:
- The Capital Times
- Article date:
- May 4, 2005
CopyrightCOPYRIGHT 2005 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA -- SPECTRUM BRANDS INC., FORMERLY RAYOVAC CORP., TODAY REPORTED A FISCAL SECOND-QUARTER LOSS BECAUSE OF ACQUISITION-RELATED CHARGES, BUT THE RESULTS EDGED ANALYSTS' EXPECTATIONS AND THE COMPANY RAISED ITS FINANCIAL OUTLOOK FOR ALL OF 2005.
The one-time inventory re-evaluation and debt write-off charges associated with its purchase of United Industries pushed Spectrum to a loss of $1.9 million, or 4 cents per share, for the quarter ended April 3, compared to earnings of $2.6 million, or 8 cents per share, a year ago.
Excluding those charges, Spectrum posted pro forma net income of 51 cents per share for the quarter, up from 19 cents per share a ...