Feb 1 Consumer products maker Newell Rubbermaid
Inc reported a better-than-expected quarterly profit,
boosted by cost cuts and strength in emerging markets.
Under Chief Executive Mike Polk, who took the Newell helm in
July 2011, the maker of Sharpie pens and Rubbermaid storage
containers has reduced jobs, consolidated manufacturing and
distribution facilities and cut the number of business units to
The company's net income rose to $101.9 million, or 35 cents
per share, in the fourth quarter from $80.4 million, or 27 cents
per share, a year earlier.
Excluding one-time items, it earned 43 cents, beating
analysts' average estimate of 42 cents, according to Thomson
Newell, which also makes Graco strollers, Calphalon cookware
and Paper Mate pens, said net sales rose 1.6 percent to $1.52
billion, meeting analysts' expectations.