* Raises low-end of full-year EPS forecast by 2 cents
* Second-quarter earnings/share $0.50 vs est $0.49
* Second-quarter revenue rises 3.5 pct to $1.47 bln
July 26 Consumer products maker Newell
Rubbermaid Inc raised the low end of its full-year
earnings forecast after reporting a better-than-expected quarter
boosted by demand in Latin America and improved productivity.
The company, which makes Sharpie pens and Rubbermaid storage
containers, raised the lower end of its profit forecast for 2013
by 2 cents to a range of $1.80 to $1.84 per share.
"We are well positioned to accelerate core growth in the
back half of the year fueled by new item launches in Commercial
Products, Tools, Writing and Baby and strengthened brand
investment," said chief executive Michael Polk.
For the second quarter, the company earned 50 cents per
share excluding one-time items, 1 cent above the average analyst
The company has been banking on fast-growing Latin America
to offset challenges in crisis-ridden Europe and a slowdown in
Asia. In May, it announced plans to sell its hardware and
teaching aids businesses to boost overall productivity.
It completed the sale of its teaching aids business earlier
Net income in the quarter ended June fell 2 percent to
$109.8 million, or 37 cents per share, from $111.8 million, or
38 cents per share, a year earlier.
Second-quarter sales rose 3.5 percent to $1.47 billion.
Analysts on average expected revenue of $1.47 billion,
according to Thomson Reuters I/B/E/S.