newell rubbermaid inc (NWL) Snapshot

Newell Rubbermaid Inc. (NYSE:NWL) is seeking acquisitions. Newell Rubbermaid is currently executing a $300 million share repurchase program which will result in a uncommitted cumulative cash flow of about $1.5 billion. Nancy O'Donnell, Vice President Investor Relations said, "We will use the cash for a combination of further shareholder-friendly actions and potential bolt-on acquisitions to complement the organic growth agenda".

Newell Rubbermaid Inc. announced the declaration of a quarterly cash dividend of $0.15 per share on the company's common stock. The dividend is payable June 14, 2013 to common stockholders of record at the close of business on May 31, 2013.

Newell Rubbermaid Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $1,240.8 million compared to $1,250.5 million a year ago. Operating income was $97.8 million compared to $123.2 million a year ago. Income before income taxes was $70.2 million compared to $103.3 million a year ago. Net income from continuing operations was $63.8 million or $0.22 per basic and diluted share compared to $78.3 million or $0.27 per basic and diluted share a year ago. Net income was $54.2 million or $0.19 per basic and diluted share compared to $79.3 million or $0.27 per basic and diluted share a year ago. On non-GAAP basis, operating income was $138.8 million compared to $145.3 million a year ago. Income before income taxes was $122.3 million compared to $125.4 million a year ago. Net income from continuing operations was $102.1 million compared to $95.7 million a year ago. Net income was $102.1 million or $0.35 per diluted share compared to $95.7 million or $0.32 per basic and diluted share a year ago. Net cash used in operating activities was $123.1 million compared to $47.4 million a year ago. Capital expenditures were $33.6 million compared to $48.3 million a year ago. Core sales, which exclude the impact of changes in foreign currency translation, grew 0.2%, or 2.5% when adjusted for the 2012 timing shift of approximately $28 million in sales from the second quarter to the first quarter related to the company's European SAP conversion in 2012. Normalized operating income excludes $41.0 million of restructuring and restructuring-related costs incurred primarily in connection with Project Renewal, while in 2012 normalized operating income excluded $22.1 million of restructuring and restructuring-related costs. Normalized diluted earnings per share increased 9.4% compared to the prior year's $0.32, attributable to improved operating performance, lower interest expense and a more favorable tax rate, partially offset by a comparison with first quarter 2012 results that included a benefit of approximately $0.03 related to the European SAP-related timing shift. Normalized diluted earnings per share exclude $0.12 per diluted share for restructuring and restructuring-related costs associated with Project Renewal, $0.02 per diluted share resulting from the currency devaluation in Venezuela, $0.02 per diluted share attributable to the resolution of tax contingencies, and a net loss (including impairments) from discontinued operations of $0.03 per diluted share. The company's 2013 guidance is core sales growth in a range from 2 to 4%, normalized operating margin improvement of up to 20 basis points, normalized earnings per share of $1.78 to $1.84, which now represents 6 to 10% growth compared to last year's normalized EPS of $1.67 (restated for discontinued operations); and operating cash flow of between $575 and $625 million. The company's 2013 normalized EPS guidance excludes between $90 and $110 million of restructuring and restructuring-related costs associated with Project Renewal. The company's operating cash flow guidance includes approximately $70 to $90 million in restructuring and restructuring-related cash payments. The company plans to fund capital expenditures of $175 to $200 million during the year. The company expects diluted earnings per share from $1.54 to $1.60.