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Rubbermaid reports strong performance in 2010

1/27/2011

Atlanta-based Newell Rubbermaid used the term "growth trifecta" to describe its 2010 performance -- strong sales, strong margins and strong earnings.


The company reported fourth quarter net income of $75.7 million, up 24.9% from $60.6 million reported for the same period last year.


Sales for the quarter ended Dec. 31 were $1.46 billion, up 3.4% from $1.42 billion reported for the same period in 2009.


For the full year, the company reported net income of $292.8, up % from $285.5 reported in 2009.


Sales for 2010 were $5.75 billion, up % from $5.57 billion from last year.


Looking forward, the company expects core sales to increase four to five percent in 2011.


“As I look back on 2010, I think it’s most notable that we consistently grew core sales in a sluggish economy and delivered on all of our financial targets, while continuing to advance our long-term growth strategies,” said Mark Ketchum, president and CEO. “By staying focused on the drivers that are in our control, we have created our own momentum to deliver once again a full year of the growth trifecta – sales growth, gross margin expansion and normalized earnings growth.”

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