Energizer 2000 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2000 Energizer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 52

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52

ENERGIZER 2000 ANNUAL REPORT
46
(22) QUARTERLY FINANCIAL INFORMATION –
(Unaudited)
The results of any single quarter are not necessarily indicative of
Energizer’s results for the full year. Net earnings of Energizer are
significantly impacted in the first quarter by the additional sales
volume associated with the Christmas holiday season.
First Second Third Fourth
Fiscal 2000
Net sales $ 673.6 $ 359.9 $ 402.8 $ 478.0
Gross profit 351.4 167.3 196.9 224.0
Earnings from continuing operations (a) 104.7 15.7 23.2 36.6
Gain on disposition of discontinued operations – 1.2 – –
Net earnings 104.7 16.9 23.2 36.6
Basic and Diluted Earnings Per Share (b)
Earnings from continuing operations $ 1.07 $ 0.17 $ 0.24 $ 0.38
Net gain on discontinued operations $ – $ 0.01 $ – $ –
Net earnings $ 1.07 $ 0.18 $ 0.24 $ 0.38
First Second Third Fourth
Fiscal 1999
Net sales $ 582.4 $ 405.7 $ 399.2 $ 485.0
Gross profit 277.3 184.0 183.1 230.0
Earnings from continuing operations (a) 54.8 22.0 21.7 61.3
Loss from discontinued operations (2.8) (2.8) – –
Loss on disposition of discontinued operations – (74.2) – –
Net earnings/(loss) 52.0 (55.0) 21.7 61.3
Basic and Diluted Earnings Per Share (b)
Earnings from continuing operations $ 0.55 $ 0.21 $ 0.21 $ 0.60
Net loss on discontinued operations $ (0.03) $ (0.73) $ – $ –
Net earnings/(loss) $ 0.52 $ (0.52) $ 0.21 $ 0.60
(a) Earnings from continuing operations include the following items:
2000 1999
First quarter
Restructuring $ – $ (6.2)
Second quarter
Costs related to spin-off (3.3) –
Loss on disposition of Spanish affiliate (15.7) –
Restructuring –0.1
Capital loss tax benefits 24.4 –
Third quarter
Restructuring –(8.5)
Capital loss tax benefits –3.3
Fourth quarter
Restructuring –6.3
Capital loss tax benefits –13.3
(b) For all periods prior to the spin-off, shares used in the earnings per share calculation are based on
the weighted-average number of shares of Ralston common stock outstanding adjusted for the distribution
of one share of Energizer stock for each three shares of Ralston stock.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (Dollars in millions except per share data)