Earnings Report: Newell Rubbermaid (NYSE:NWL) Reports Earnings In Line, Offers Weak FY 2010 Guidance

01/29/2010-Newell Rubbermaid (NYSE:NWL) reported fiscal Q4 EPS of $0.27, ex-items, in line with consensus estimates.

Revenues for the quarter fell 2% year-over-year to $1.42 billion, narrowly topping consensus estimates of $1.41 billion.

The company forecasts FY 2010 EPS in the range of $1.35 to $1.45, versus consensus estimates of $1.47.

President and CEO Mark Ketchum commented, "We are pleased to report solid fourth quarter results which demonstrate a number of positive trends as we finished out the year. In a challenging year, we grew market share in the majority of our businesses, significantly improved both gross and operating margins, lowered working capital to generate increased operating cash flow, and reduced structural costs while continuing to invest in support of our brands. The combination of top line sales stabilization and outstanding margin performance allowed us to ramp up strategic spending in the fourth quarter in order to drive growth in 2010. We look forward to capitalizing on the progress we've made in the implementation of our strategy as we enter 2010 with a stronger portfolio that is more responsive to consumer understanding, product innovation and brand marketing."

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