October 30, 2009 — Newell Rubbermaid today announced third-quarter 2009 financial results, including normalized earnings per share, ahead of the company's guidance and prior year results, according to several sources, including Reuters. The company reported strong operating cash flow and gross-margin improvement and increased its guidance for full-year 2009 normalized EPS and operating cash flow.

According to Reuters, "Net sales declined 17.7 percent to $1.45 billion in the third quarter, compared to $1.76 billion in the prior year, in line with the company's guidance of a decline in the high teens percent range. Core sales were down almost 10 percent, while planned product line exits and foreign currency translation reduced net sales by 6 percent and 2 percent, respectively.

"Gross margin for the quarter was 37.4 percent, up 480 basis points from last year, as the positive impact from product line exits, moderating input costs and year-over-year pricing initiatives more than offset the effects of reduced manufacturing volumes."

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