Rayovac 2003 Annual Report Download - page 10

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Page 8/9
Since its introduction, the new I-C3rechargeable system has generated favorable press
coverage from several leading trade and consumer technology publications. The system
was chosen by the editors of Popular Science to receive their “Best of What’s New in 2003”
award, one of only 100 products that are chosen for this honor. American Photo named
the system “Editor’s Choice for Fastest Charger” and positive stories about the system
have appeared in PC World, U.S. News and World Report, Popular Photography, The New York Times
and others. More importantly, retailers and consumers have embraced the system for its
compelling convenience, power and value.
Building Our Business with World-Class Brands As a result of our acquisitions,
Rayovac has assembled a portfolio of powerful brands that are well recognized and highly
regarded by consumers around the world. Together Rayovac, Varta and Remington
represent more than 350 years of branding—giving us a considerable advantage in the
consumer products marketplace where brand recognition and trust is crucial to success.
We intend to continue to grow our business and leverage our global distribution and
customer base by adding more leading brands to our product mix. We will continue to
seek appropriate acquisition candidates like Varta and Remington—market-share
leaders with innovative products, excellent growth, attractive profit margins and proven
capabilities in product development and marketing. We are confident that we will be able
to continue to identify and acquire the best opportunities and integrate them in a way that
yields maximum value for our shareholders.
Implementing Our Proven Strategy for Future Growth We set and met a high
operating standard in 2003, and we expect to reap the benefits of our efforts in 2004 and
beyond. As always, we will concentrate on executing our proven business strategy to
globalize and diversify our organization; leverage and strengthen our brand portfolio;
expand our worldwide distribution capabilities; generate growth through innovative
product technology, product design and marketing; drive efficiencies and reduce costs;
and pursue strategic acquisitions. Execution of this strategy will allow us to grow both
revenue and earnings over the long term, creating increased shareholder value.
Proud Past, Powerful Future At Rayovac, we are firmly committed to building on our
past investments as a solid foundation for our Company’s future growth. What’s more, we
believe that we have the fundamental strengths that will enable us to do so in a highly
effective way. We are a market leader in several product areas, including batteries, lighting
products and electric shavers. Our distribution network is global, and our relationships
Rayovac Corporation
2003 Annual Report