Rayovac 2002 Annual Report Download - page 25

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to our SHAREHOLDERS [continued]
Rayovac’s zinc air hearing aid batteries deliver powerful
performance and excellent sound quality—the perfect
solution for high-demand hearing aids.
Pursuing a Bright Future
As we concluded the fiscal year, some of the market forces that buffeted our industry
in fiscal 2002 showed signs of continuing into 2003. A near-term economic recovery in
North America is uncertain, and the stock market continues to bounce erratically on news
of terrorism, turmoil in the Middle East and corporate scandals. Latin American economies,
closely tagged to the health of their huge northern trading partner, continue to struggle.
In spite of these challenging economic conditions, Rayovac’s management team continues to pursue our
primary mission: to create and deliver our industry’s most powerful solutions to consumers, customers, employees and share-
holders. In the coming months, we will strive to build our alkaline battery core business, introduce product improvements and expand market share.
We expect to solidify our rechargeables leadership by launching the I-C3system, by broadening distribution and retail sales of our rechargeable product line.
We will also build upon this year’s success of our lighting products business that rebounded as a result of new innovative designs and distribution wins. We will
pursue these initiatives, as always, with a sharp focus on driving revenue growth and expanding margins.
We will also strive to be the premier value player in our industry for both consumers and retailers on a global basis. For consumers, this means
that Rayovac will strive to provide high-quality products that deliver powerful performance, at a value price, day in and day out. For retailers, this means
Rayovac will provide industry-leading category management skills and processes designed to maximize their revenues and profits. We are deeply committed to
delivering on these promises to consumers and retailers around the world, both today and in the future.
As we forge ahead into fiscal 2003, Rayovac’s world is larger, more exciting and more promising than it was just 12 months ago. We’re thrilled about our
future and the opportunities that it holds for continued growth and success. As we pursue these goals, we thank you—our valued shareholders—for being a key
part of our evolving world and an important participant in our future.
David A. Jones
Chairman and Chief Executive Officer
Kent J. Hussey
President and Chief Operating Officer
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