Rayovac 2012 Annual Report Download - page 54

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Fiscal Year Ended September 30, 2012 Compared to Fiscal Year Ended September 30, 2011
Highlights of Consolidated Operating Results
Net Sales. Net sales for Fiscal 2012 increased to $3,252 million from $3,187 million in Fiscal 2011, a 2%
increase. The following table details the principal components of the change in net sales from Fiscal 2011 to
Fiscal 2012 (in millions):
Net Sales
Fiscal 2011 Net Sales ................................................ $3,187
Increase in pet supplies ........................................... 45
Increase in home and garden control products ......................... 33
Increase in consumer batteries ..................................... 31
Increase in electric shaving and grooming products .................... 12
Increase in electric personal care products ............................ 9
Increase in small appliances ....................................... 8
Foreign currency impact, net ...................................... (73)
Fiscal 2012 Net Sales ................................................ $3,252
Consolidated net sales by product line for Fiscal 2012 and Fiscal 2011 are as follows (in millions):
Fiscal Year
2012 2011
Product line net sales
Consumer batteries .................................................. $ 949 $ 954
Small appliances .................................................... 772 778
Pet supplies ........................................................ 615 579
Home and garden control products ...................................... 387 354
Electric shaving and grooming products .................................. 279 274
Electric personal care products ......................................... 250 248
Total net sales to external customers .................................... $3,252 $3,187
Global consumer battery sales during Fiscal 2012 decreased $5 million compared to Fiscal 2011. Excluding
negative foreign exchange impacts of $36 million, global consumer battery sales increased $31 million, or 3%.
The growth of global consumer battery sales on a constant currency basis was driven by new customer listings as
well as increased shelf space at existing customers, coupled with price increases, primarily in Latin America, and
geographic expansion.
Small appliances sales decreased $6 million during Fiscal 2012 compared to Fiscal 2011. Excluding
negative foreign exchange impacts of $14 million, small appliances sales increased $8 million, or 1%. Latin
American and European constant currency sales increases of $16 million and $12 million, respectively, were
tempered by a $19 million decrease in North American sales. Latin American sales gains resulted from
distribution gains with existing customers as well as price increases. European sales increases were attributable to
market share gains in the United Kingdom and expansion of the Russell Hobbs brand throughout Europe.
Decreased North American sales were a result of a concerted effort to eliminate certain low margin promotions.
Pet supply product sales during Fiscal 2012 increased $36 million, or 6%, compared to Fiscal 2011, led by
increases in companion animal and aquatics sales of $34 million and $11 million, respectively, tempered by $8
million in negative foreign currency impacts. Gains in companion animal sales were due to the FURminator
acquisition, distributional gains and growth in the Nature’s Miracle brand in the U.S. Aquatics sales gains
resulted from increases in North American aquarium starter kits and pond related sales, including new
distribution at major retailers, which were tempered by lower European aquatics sales.
44