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Newell Rubbermaid Inc. 2008 Annual Report
19
ACQUISITIONS OF BUSINESSES
2008, 2007 and 2006
Information regarding significant businesses acquired in the last three years is included in Footnote 2 of the Notes to Consolidated Financial Statements.
2005 and 2004
On November 23, 2005, the Company acquired Dymo, a global leader in designing, manufacturing and marketing on-demand labeling solutions, from
Esselte AB for $699.2 million. The transaction was accounted for using the purchase method of accounting and was finalized in 2006, after consideration
of certain working capital and other adjustments. The Company funded the acquisition with available cash and borrowings from pre-existing credit facilities.
The acquisition of Dymo strengthened the Company’s position in the Office Products segment by expanding and enhancing the Company’s product lines
and customer base. No significant acquisitions occurred during 2004.
QUARTERLY SUMMARIES
Summarized quarterly data for the last two years is as follows (in millions, except per share data) (unaudited):
Calendar Year 1st 2nd 3rd 4th Year
2008
Net sales $1,433.7 $1,825.1 $1,760.3 $1,451.5 $6,470.6
Gross margin 490.5 623.2 574.7 434.8 2,123.2
Income (loss) from continuing operations 57.4 92.5 55.0 (256.7) (51.8)
Loss from discontinued operations (0.5) — — — (0.5)
Net income (loss) $ 56.9 $ 92.5 $ 55.0 $ (256.7) $ (52.3)
Earnings (loss) per share:
Basic:
Income (loss) from continuing operations $ 0.21 $ 0.33 $ 0.20 $ (0.93) $ (0.19)
Loss from discontinued operations — — — — —
Net income (loss) $ 0.21 $ 0.33 $ 0.20 $ (0.93) $ (0.19)
Diluted:
Income (loss) from continuing operations $ 0.21 $ 0.33 $ 0.20 $ (0.93) $ (0.19)
Loss from discontinued operations — — — — —
Net income (loss) $ 0.20 $ 0.33 $ 0.20 $ (0.93) $ (0.19)
2007
Net sales $1,384.4 $1,693.1 $1,687.3 $1,642.5 $6,407.3
Gross margin 474.7 605.6 601.0 575.9 2,257.2
Income from continuing operations 65.1 143.2 169.9 101.0 479.2
(Loss) income from discontinued operations (15.8) (1.0) 0.3 4.4 (12.1)
Net income $ 49.3 $ 142.2 $ 170.2 $ 105.4 $ 467.1
Earnings (loss) per share:
Basic:
Income from continuing operations $ 0.24 $ 0.52 $ 0.62 $ 0.37 $ 1.74
(Loss) income from discontinued operations (0.06) — — 0.02 (0.04)
Net income $ 0.18 $ 0.52 $ 0.62 $ 0.38 $ 1.69
Diluted:
Income from continuing operations $ 0.23 $ 0.51 $ 0.61 $ 0.36 $ 1.72
(Loss) income from discontinued operations (0.05) — — 0.02 (0.04)
Net income $ 0.18 $ 0.51 $ 0.61 $ 0.38 $ 1.68