Energizer 2009 Annual Report Download - page 49

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ENERGIZER HOLDINGS INC. 2009 ANNUAL REPORT PAGE 47
First Second Third Fourth
Fiscal 2009
Net sales $1,042.5 $880.4 $ 997.5 $1,079.4
Gross profit 513.5 413.6 457.8 473.7
Net earnings 111.0 77.0 72.7 37.1
Basic earnings per share $1.90 $1.32 $1.15 $0.53
Diluted earnings per share $1.88 $1.30 $1.13 $0.53
Items increasing/(decreasing) net earnings:
PTO adjustment $ – $ 14.5 $ 0.7 $ –
VERO/Separation costs – – – (24.3)
Acquisition inventory valuation – – – (2.3)
Integration costs (0.9) (1.1) – (1.1)
Provisions for restructuring and related costs (2.1) (3.1) (0.2) (0.4)
Adjustment to prior year tax accruals 0.9 0.1 (1.4) (1.1)
First Second Third Fourth
Fiscal 2008
Net sales $1,189.9 $951.0 $1,066.7 $1,123.4
Gross profit 536.2 457.8 509.0 534.7
Net earnings 102.6 60.9 66.7 99.1
Basic earnings per share $1.79 $1.06 $1.16 $1.71
Diluted earnings per share $1.74 $1.03 $1.13 $1.67
Items increasing/(decreasing) net earnings:
Acquisition inventory valuation $ (15.5) $ (1.0) $ – $ –
Integration costs (3.7) (2.7) (1.9) (3.1)
Provisions for restructuring and related costs (1.5) (0.2) – (0.3)
Adjustment to prior year tax accruals – – (4.0) 2.9
The Company’s international net sales are derived from customers in
numerous countries, with sales to customers in Canada represent-
ing 5.1%, 5.4% and 4.5% of the Company’s total net sales in 2009,
2008 and 2007, respectively. Net sales to customers in all other single
foreign countries represented less than 5% of the Company’s total net
sales for each of the three years presented.
Supplemental product information is presented below for net sales:
2009 2008 2007
Net Sales
Alkaline batteries $1,264.3 $1,490.1 $1,461.9
Carbon zinc batteries 186.4 225.2 249.9
Other batteries and
lighting products
658.8 759.0 664.5
Wet Shave 1,118.1 1,085.0 988.8
Skin Care 364.0 364.1 –
Feminine Care 214.1 222.6 –
Infant Care 194.1 185.0 –
Total net sales $3,999.8 $4,331.0 $3,365.1
19. Quarterly Financial Information – (Unaudited)
The results of any single quarter are not necessarily indicative of the Company’s results for the full year. Net earnings of the Company are impacted in
the first quarter by the additional battery product sales volume associated with the December holiday season. Earnings per share data are computed
independently for each of the periods presented. As a result, the sum of the earnings per share amounts for the quarter may not equal the total for
the year.