Spectrum Brands Turns To Q1 Profit, But Revenue Declines

(RTTNews) - Spectrum Brands Holdings, Inc. (SPB), a manufacturer of consumer products and home essentials, Thursday reported net income from continuing operations of $17.4 million or $0.51 per share compared with loss of $40.3 million or $0.99 per share in the same quarter a year ago.

Net income was $29.1 million or $0.85 per share compared with net loss of $20.9 million or $0.51 per share last year.

Sales for the quarter declined to $692.2 million from $713.3 million in the previous year, driven by lower demand.

Analysts on average polled by Thomson-Reuters were expecting earnings of $0.43 per share on revenue of $673.86 million. Analysts' estimates typically exclude special items.