Jarden Corp. announced that it expects revenues for the first quarter of 2009 will be roughly $1.14 billion as compared to $1.22 billion in 2008.
According to SportsOneSource:
Approximately two-thirds of this difference was foreign exchange related. The first quarter segment earnings are expected to be in the range of $90 to $92 million, or 21 o 23 cents a share. That compares with earnings of 22 cents a year ago. The guidance is ahead of Wall Street’s consensus estimate of 12 cents a share.
Jarden also announced that its Board approved earlier this month an early termination date for the Stockholder Rights Plan which was implemented on November 19, 2008. The Board viewed the plan “as a necessary measure in response to the unprecedented market volatility that existed at the time, and as market conditions have shown signs of stability, the company believes that accelerating the termination date for the plan to November 18, 2009 is in the best interest of our stockholders.