Rayovac 2007 Annual Report Download - page 3

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A Letter to Our Shareholders
SPECTRUM BRANDS | 2007 ANNUAL REPORT 1
To Our Shareholders:
My message to you this year is one of confi dence and optimism about
the future of Spectrum Brands. This sentiment is based on two factors.
First, we have reinvented the business for profi t and growth. The right
organizational framework, the right cost structure and the right
management team are now in place thanks to major restructuring
initiatives during fi scal 2007. As a result, a more accountable, agile
and competitive Spectrum has emerged with our businesses better
positioned to generate profi table growth in the future. The second
reason for my optimism is based on our businesses and brands
themselves. Key indicators across all three businesses in all three
major geographic markets are largely stable and positive – a fi rst
in quite some time. Though market conditions change constantly,
our brand fundamentals – from manufacturing and distribution to
product development and market position – are solid. As a result,
we are confi dent in the ability of our brands to more fully realize
their potential going forward. Simply put: our hard work is working.