Rayovac 2011 Annual Report Download - page 156

Download and view the complete annual report

Please find page 156 of the 2011 Rayovac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 170

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170

SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(In thousands, except per share amounts)
Company will account for the acquisition by applying the acquisition method of accounting and include the fair
value of acquired assets within the Company’s Home and Garden Business segment. The Company is in process
of preparing the preliminary purchase price allocation.
On November 2, 2011, the Company offered $200,000 aggregate principal amount of 9.5% Notes at a price
of 108.50% of the par value; these notes are in addition to the $750,000 aggregative principal amount of 9.5%
Notes already outstanding. The additional notes are guaranteed by Spectrum Brands’ parent company, SB/RH
Holdings, LLC, as well as by existing and future domestic restricted subsidiaries and secured by liens on
substantially all of the Company’s and the guarantors assets. The additional notes will vote together with the
existing 9.5% Notes.
On December 5, 2011, the Company signed a definitive agreement to acquire all of the issued and
outstanding common stock of FURminator, Inc. for $140,000 in cash. The transaction is subject to customary
closing and regulatory approvals. In accordance with ASC 805, the Company will account for the acquisition by
applying the acquisition method of accounting and include the fair value of acquired assets and liabilities within
the Company’s Global Pet Supplies segment. The Company is in process of preparing the preliminary purchase
price allocation.
(19) Quarterly Results (unaudited)
Fiscal 2011:
Successor Company
Quarter Ended
September 30,
2011
July 3,
2011
April 3,
2011
January 2,
2011
Net sales ........................................... $827,329 $804,635 $693,885 $861,067
Gross profit ......................................... 280,495 293,694 255,439 299,239
Net (loss) income .................................... (33,831) 28,604 (50,186) (19,758)
Basic net (loss) income per common share ................ $ (0.65) $ 0.56 $ (0.99) $ (0.39)
Diluted net (loss) income per common share ............... $ (0.65) $ 0.56 $ (0.99) $ (0.39)
Fiscal 2010:
Successor Company
Quarter Ended
September 30,
2010
July 4,
2010
April 4,
2010
January 3,
2010
Net sales ........................................... $788,999 $653,486 $532,586 $591,940
Gross profit ......................................... 274,499 252,869 209,580 184,462
Net loss ............................................ (24,317) (86,507) (19,034) (60,249)
Basic net loss per common share ........................ $ (0.48) $ (2.53) $ (0.63) $ (2.01)
Diluted net loss per common share ....................... $ (0.48) $ (2.53) $ (0.63) $ (2.01)
146