Newell Rubbermaid Inc. (NWL) reported that its fourth-quarter net income controlling interests was $60.6 million or $0.20 per share, compared to a loss of $256.7 million or $0.92 per share, in the fourth quarter 2008.
Normalized earnings controlling interests were $75.7 million or $0.27 per share, compared to $29.4 million or $0.11 per share in the fourth quarter 2008. Analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share. Analysts' estimates typically exclude special items.
Net sales declined 2% to $1.42 billion, from $1.45 billion in the prior year quarter. Ten analysts had consensus revenue estimate of $1.41 billion for the quarter.
The company expects core sales to increase in the low single digits in 2010, along with a two percent decline from planned product exits and a slightly positive impact from foreign currency.
The company expects normalized earnings of $1.35 to $1.45 per share, which includes an estimated $0.04 to $0.05 negative impact from the devaluation of the Venezuelan bolivar. Earnings per share are expected to be in the range of $1.15 to $1.25 for fiscal 2010.
Analysts expect the company to report earnings of $1.47 per share on revenues of $5.68 billion for fiscal 2010. Analysts' estimates typically exclude special items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.