Exhibit 99.1
Newell Rubbermaid Updates Segment Reporting
April 30 Earnings Conference Call Time Change to 10:00 ET
ATLANTA, April 16, 2009 – Newell Rubbermaid (NYSE: NWL) today released updated historical segment financial data to reflect the realignment and consolidation of its business segments, effective the first quarter of 2009. As previously announced, the company will report three operating segments going forward: Home & Family, Office Products, and Tools, Hardware & Commercial Products. This change was designed to streamline structural costs and better align businesses by target consumer and route to market.
The global business units (GBUs) that formerly comprised the Cleaning, Organization & Décor segment have been integrated into two of the three remaining segments. The Rubbermaid Commercial Products GBU is now part of the Tools, Hardware & Commercial Products segment. The Rubbermaid Food & Home Products and Décor GBUs are now included in the Home & Family segment. In addition, the Amerock brand, which was previously part of the Tools & Hardware segment, has been integrated into the Décor GBU.
The updated historical segment financial data is attached and can also be found in the Quarterly Earnings section of the company’s investor relations Web site atwww.newellrubbermaid.com. While investors are being provided retrospectively with revised segment financial information reflecting the prospective changes in reportable business segments, the company has in no way revised or restated its historical financial statements for any period.
In addition, Newell Rubbermaid announced that its first quarter 2009 earnings conference call will be held at 10:00 a.m. ET on April 30 rather than the previously announced 9:00 a.m. ET. To listen to a live webcast of the call, please visit Events & Presentations in the Investor Relations section of Newell Rubbermaid’s Web site atwww.newellrubbermaid.com. The webcast will be available for replay for two weeks.
Non-GAAP Financial Measures
This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP is provided.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with sales of over $6 billion and a strong portfolio of brands, including Rubbermaid®, Sharpie®, Graco®, Calphalon®, Irwin®, Lenox®, Levolor®, Paper Mate®, Dymo®, Waterman®, Parker®, Goody®, Technical ConceptsTM and Aprica®.
3 Glenlake Parkway | Atlanta, GA 30328 | Phone +1 (770) 418-7000 | www.newellrubbermaid.com | NYSE: NWL
This press release and additional information about Newell Rubbermaid are available on the company’s Web site,www.newellrubbermaid.com.
Contacts: | ||
Nancy O’Donnell | David Doolittle | |
Vice President, Investor Relations | Vice President, Corporate Communications | |
+1 (770) 418-7723 | +1 (770) 418-7519 |
NWL-EA
3 Glenlake Parkway | Atlanta, GA 30328 | Phone +1 (770) 418-7000 | www.newellrubbermaid.com | NYSE: NWL
Newell Rubbermaid Inc.
Financial Worksheet
(In Millions)
2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | |||||||||||||||||||||||||||||||||||||||||||
Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | |||||||||||||||||||||||||||||||||||||||||||
Q1: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Office Products | 418.3 | 33.9 | — | 33.9 | 8.1 | % | 402.8 | 35.1 | — | 35.1 | 8.7 | % | 386.8 | 31.7 | — | 31.7 | 8.2 | % | |||||||||||||||||||||||||||||||||
Tools, Hardware & Commercial Products | 407.2 | 61.0 | — | 61.0 | 15.0 | % | 398.4 | 58.1 | — | 58.1 | 14.6 | % | 375.5 | 46.5 | — | 46.5 | 12.4 | % | |||||||||||||||||||||||||||||||||
Home & Family | 608.2 | 53.4 | — | 53.4 | 8.8 | % | 583.2 | 63.8 | — | 63.8 | 10.9 | % | 580.3 | 58.3 | — | 58.3 | 10.0 | % | |||||||||||||||||||||||||||||||||
Restructuring Costs | (18.4 | ) | 18.4 | — | (15.5 | ) | 15.5 | — | (9.1 | ) | 9.1 | — | |||||||||||||||||||||||||||||||||||||||
Corporate | (18.8 | ) | — | (18.8 | ) | (20.7 | ) | — | (20.7 | ) | (17.6 | ) | — | (17.6 | ) | ||||||||||||||||||||||||||||||||||||
Total | $ | 1,433.7 | $ | 111.1 | $ | 18.4 | $ | 129.5 | 9.0 | % | $ | 1,384.4 | $ | 120.8 | $ | 15.5 | $ | 136.3 | 9.8 | % | $ | 1,342.6 | $ | 109.8 | $ | 9.1 | $ | 118.9 | 8.9 | % | |||||||||||||||||||||
Year-over-year changes-2008 vs. 2007 | Year-over-year changes-2007 vs. 2006 | |||||||||||||||||||||||||
Net Sales | Normalized OI (2) | Net Sales | Normalized OI (2) | |||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | |||||||||||||||||||
Q1: | ||||||||||||||||||||||||||
Office Products | 15.5 | 3.8 | % | (1.2 | ) | (3.4 | )% | 16.0 | 4.1 | % | 3.4 | 10.7 | % | |||||||||||||
Tools, Hardware & Commercial Products | 8.8 | 2.2 | % | 2.9 | 5.0 | % | 22.9 | 6.1 | % | 11.6 | 24.9 | % | ||||||||||||||
Home & Family | 25.0 | 4.3 | % | (10.4 | ) | (16.3 | )% | 2.9 | 0.5 | % | 5.5 | 9.4 | % | |||||||||||||
Restructuring Costs | — | 0.0 | % | — | 0.0 | % | ||||||||||||||||||||
Corporate | 1.9 | 9.2 | % | (3.1 | ) | (17.6 | )% | |||||||||||||||||||
Total | $ | 49.3 | 3.6 | % | $ | (6.8 | ) | (5.0 | )% | $ | 41.8 | 3.1 | % | $ | 17.4 | 14.6 | % | |||||||||
2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | |||||||||||||||||||||||||||||||||||||||||||
Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | |||||||||||||||||||||||||||||||||||||||||||
Q2: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Office Products | 609.2 | 101.7 | — | 101.7 | 16.7 | % | 583.4 | 108.6 | — | 108.6 | 18.6 | % | 575.1 | 99.2 | — | 99.2 | 17.2 | % | |||||||||||||||||||||||||||||||||
Tools, Hardware & Commercial Products | 498.3 | 80.2 | — | 80.2 | 16.1 | % | 443.1 | 75.9 | — | 75.9 | 17.1 | % | 432.5 | 72.5 | — | 72.5 | 16.8 | % | |||||||||||||||||||||||||||||||||
Home & Family | 717.6 | 69.6 | — | 69.6 | 9.7 | % | 666.6 | 84.7 | — | 84.7 | 12.7 | % | 626.5 | 69.1 | — | 69.1 | 11.0 | % | |||||||||||||||||||||||||||||||||
Restructuring Costs | (69.4 | ) | 69.4 | — | (15.5 | ) | 15.5 | — | (19.1 | ) | 19.1 | — | |||||||||||||||||||||||||||||||||||||||
Corporate | (21.2 | ) | — | (21.2 | ) | (20.9 | ) | — | (20.9 | ) | (20.0 | ) | — | (20.0 | ) | ||||||||||||||||||||||||||||||||||||
Total | $ | 1,825.1 | $ | 160.9 | $ | 69.4 | $ | 230.3 | 12.6 | % | $ | 1,693.1 | $ | 232.8 | $ | 15.5 | $ | 248.3 | 14.7 | % | $ | 1,634.1 | $ | 201.7 | $ | 19.1 | $ | 220.8 | 13.5 | % | |||||||||||||||||||||
Year-over-year changes-2008 vs. 2007 | Year-over-year changes-2007 vs. 2006 | |||||||||||||||||||||||||
Net Sales | Normalized OI (2) | Net Sales | Normalized OI (2) | |||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | |||||||||||||||||||
Q2: | ||||||||||||||||||||||||||
Office Products | 25.8 | 4.4 | % | (6.9 | ) | (6.4 | )% | 8.3 | 1.4 | % | 9.4 | 9.5 | % | |||||||||||||
Tools, Hardware & Commercial Products | 55.2 | 12.5 | % | 4.3 | 5.7 | % | 10.6 | 2.5 | % | 3.4 | 4.7 | % | ||||||||||||||
Home & Family | 51.0 | 7.7 | % | (15.1 | ) | (17.8 | )% | 40.1 | 6.4 | % | 15.6 | 22.6 | % | |||||||||||||
Restructuring Costs | — | 0.0 | % | — | 0.0 | % | ||||||||||||||||||||
Corporate | (0.3 | ) | (1.4 | )% | (0.9 | ) | (4.5 | )% | ||||||||||||||||||
Total | $ | 132.0 | 7.8 | % | $ | (18.0 | ) | (7.2 | )% | $ | 59.0 | 3.6 | % | $ | 27.5 | 12.5 | % | |||||||||
2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | |||||||||||||||||||||||||||||||||||||||||||
Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | |||||||||||||||||||||||||||||||||||||||||||
Q3: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Office Products | 536.0 | 60.3 | — | 60.3 | 11.3 | % | 539.8 | 83.4 | — | 83.4 | 15.5 | % | 513.5 | 75.1 | — | 75.1 | 14.6 | % | |||||||||||||||||||||||||||||||||
Tools, Hardware & Commercial Products | 511.4 | 81.5 | — | 81.5 | 15.9 | % | 472.0 | 85.2 | — | 85.2 | 18.1 | % | 440.1 | 71.7 | — | 71.7 | 16.3 | % | |||||||||||||||||||||||||||||||||
Home & Family | 712.9 | 60.2 | — | 60.2 | 8.4 | % | 675.5 | 87.8 | — | 87.8 | 13.0 | % | 632.5 | 71.8 | — | 71.8 | 11.4 | % | |||||||||||||||||||||||||||||||||
Restructuring Costs | (13.5 | ) | 13.5 | — | (22.7 | ) | 22.7 | — | (22.1 | ) | 22.1 | — | |||||||||||||||||||||||||||||||||||||||
Corporate | (21.6 | ) | (21.6 | ) | (19.9 | ) | — | (19.9 | ) | (18.3 | ) | — | (18.3 | ) | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,760.3 | $ | 166.9 | $ | 13.5 | $ | 180.4 | 10.2 | % | $ | 1,687.3 | $ | 213.8 | $ | 22.7 | $ | 236.5 | 14.0 | % | $ | 1,586.1 | $ | 178.2 | $ | 22.1 | $ | 200.3 | 12.6 | % | |||||||||||||||||||||
Year-over-year changes-2008 vs. 2007 | Year-over-year changes-2007 vs. 2006 | ||||||||||||||||||||||||||
Net Sales | Normalized OI (2) | Net Sales | Normalized OI (2) | ||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||
Q3: | |||||||||||||||||||||||||||
Office Products | (3.8 | ) | (0.7 | )% | (23.1 | ) | (27.7 | )% | 26.3 | 5.1 | % | 8.3 | 11.1 | % | |||||||||||||
Tools, Hardware & Commercial Products | 39.4 | 8.3 | % | (3.7 | ) | (4.3 | )% | 31.9 | 7.2 | % | 13.5 | 18.8 | % | ||||||||||||||
Home & Family | 37.4 | 5.5 | % | (27.6 | ) | (31.4 | )% | 43.0 | 6.8 | % | 16.0 | 22.3 | % | ||||||||||||||
Restructuring Costs | — | 0.0 | % | — | 0.0 | % | |||||||||||||||||||||
Corporate | (1.7 | ) | (8.5 | )% | (1.6 | ) | (8.7 | )% | |||||||||||||||||||
Total | $ | 73.0 | 4.3 | % | $ | (56.1 | ) | (23.7 | )% | $ | 101.2 | 6.4 | % | $ | 36.2 | 18.1 | % | ||||||||||
2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | |||||||||||||||||||||||||||||||||||||||||||
Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | |||||||||||||||||||||||||||||||||||||||||||
Q4: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Office Products | 427.3 | 16.5 | 16.5 | 3.9 | % | 500.2 | 88.7 | 88.7 | 17.7 | % | 540.2 | 78.5 | — | 78.5 | 14.5 | % | |||||||||||||||||||||||||||||||||||
Tools, Hardware & Commercial Products | 408.1 | 49.0 | 49.0 | 12.0 | % | 456.8 | 65.8 | 65.8 | 14.4 | % | 432.4 | 64.2 | — | 64.2 | 14.8 | % | |||||||||||||||||||||||||||||||||||
Home & Family | 616.1 | 35.1 | 35.1 | 5.7 | % | 685.5 | 71.2 | 71.2 | 10.4 | % | 665.6 | 60.4 | — | 60.4 | 9.1 | % | |||||||||||||||||||||||||||||||||||
Impairment Charges | (299.4 | ) | 299.4 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs | (19.0 | ) | 19.0 | — | (32.3 | ) | 32.3 | — | (16.1 | ) | 16.1 | — | |||||||||||||||||||||||||||||||||||||||
Corporate | (20.3 | ) | (20.3 | ) | (20.5 | ) | (20.5 | ) | (20.1 | ) | — | (20.1 | ) | ||||||||||||||||||||||||||||||||||||||
Total | $ | 1,451.5 | $ | (238.1 | ) | $ | 318.4 | $ | 80.3 | 5.5 | % | $ | 1,642.5 | $ | 172.9 | $ | 32.3 | $ | 205.2 | 12.5 | % | $ | 1,638.2 | $ | 166.9 | $ | 16.1 | $ | 183.0 | 11.2 | % | ||||||||||||||||||||
Year-over-year changes-2008 vs. 2007 | Year-over-year changes-2007 vs. 2006 | |||||||||||||||||||||||||||
Net Sales | Normalized OI (2) | Net Sales | Normalized OI (2) | |||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | |||||||||||||||||||||
Q4: | ||||||||||||||||||||||||||||
Office Products | (72.9 | ) | (14.6 | )% | (72.2 | ) | (81.4 | )% | (40.0 | ) | (7.4 | )% | 10.2 | 13.0 | % | |||||||||||||
Tools, Hardware & Commercial Products | (48.7 | ) | (10.7 | )% | (16.8 | ) | (25.5 | )% | 24.4 | 5.6 | % | 1.6 | 2.5 | % | ||||||||||||||
Home & Family | (69.4 | ) | (10.1 | )% | (36.1 | ) | (50.7 | )% | 19.9 | 3.0 | % | 10.8 | 17.9 | % | ||||||||||||||
Impairment Charges | — | 0.0 | % | |||||||||||||||||||||||||
Restructuring Costs | — | 0.0 | % | — | 0.0 | % | ||||||||||||||||||||||
Corporate | 0.2 | 1.0 | % | (0.4 | ) | (2.0 | )% | |||||||||||||||||||||
Total | $ | (191.0 | ) | (11.6 | )% | $ | (124.9 | ) | (60.9 | )% | $ | 4.3 | 0.3 | % | $ | 22.2 | 12.1 | % | ||||||||||
2008 | 2007 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | Net Sales | Reconciliation (1) | Operating Margin | |||||||||||||||||||||||||||||||||||||||||||
Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | Reported OI | Excluded Items | Normalized OI | |||||||||||||||||||||||||||||||||||||||||||
Full year | |||||||||||||||||||||||||||||||||||||||||||||||||||
Office Products | 1,990.8 | 212.4 | — | 212.4 | 10.7 | % | 2,026.2 | 315.8 | — | 315.8 | 15.6 | % | 2,015.6 | 284.5 | — | 284.5 | 14.1 | % | |||||||||||||||||||||||||||||||||
Tools, Hardware & Commercial Products | 1,825.0 | 271.7 | — | 271.7 | 14.9 | % | 1,770.3 | 285.0 | — | 285.0 | 16.1 | % | 1,680.5 | 254.9 | — | 254.9 | 15.2 | % | |||||||||||||||||||||||||||||||||
Home & Family | 2,654.8 | 218.3 | — | 218.3 | 8.2 | % | 2,610.8 | 307.5 | — | 307.5 | 11.8 | % | 2,504.9 | 259.6 | — | 259.6 | 10.4 | % | |||||||||||||||||||||||||||||||||
Impairment Charges | (299.4 | ) | 299.4 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Restructuring Costs | (120.3 | ) | 120.3 | — | (86.0 | ) | 86.0 | — | (66.4 | ) | 66.4 | — | |||||||||||||||||||||||||||||||||||||||
Corporate | (81.9 | ) | — | (81.9 | ) | (82.0 | ) | — | (82.0 | ) | (76.0 | ) | — | (76.0 | ) | ||||||||||||||||||||||||||||||||||||
Total | $ | 6,470.6 | $ | 200.8 | $ | 419.7 | $ | 620.5 | 9.6 | % | $ | 6,407.3 | $ | 740.3 | $ | 86.0 | $ | 826.3 | 12.9 | % | $ | 6,201.0 | $ | 656.6 | $ | 66.4 | $ | 723.0 | 11.7 | % | |||||||||||||||||||||
Year-over-year changes-2008 vs. 2007 | Year-over-year changes-2007 vs. 2006 | ||||||||||||||||||||||||||
Net Sales | Normalized OI (2) | Net Sales | Normalized OI (2) | ||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||
Full year | |||||||||||||||||||||||||||
Office Products | (35.4 | ) | (1.7 | )% | (103.4 | ) | (32.7 | )% | 10.6 | 0.5 | % | 31.3 | 11.0 | % | |||||||||||||
Tools, Hardware & Commercial Products | 54.7 | 3.1 | % | (13.3 | ) | (4.7 | )% | 89.8 | 5.3 | % | 30.1 | 11.8 | % | ||||||||||||||
Home & Family | 44.0 | 1.7 | % | (89.2 | ) | (29.0 | )% | 105.9 | 4.2 | % | 47.9 | 18.5 | % | ||||||||||||||
Impairment Charges | — | 0.0 | % | — | 0.0 | % | |||||||||||||||||||||
Restructuring Costs | — | 0.0 | % | — | 0.0 | % | |||||||||||||||||||||
Corporate | 0.1 | 0.1 | % | (6.0 | ) | (7.9 | )% | ||||||||||||||||||||
Total | $ | 63.3 | 1.0 | % | $ | (205.8 | ) | (24.9 | )% | $ | 206.3 | 3.3 | % | $ | 103.3 | 14.3 | % | ||||||||||
(1) | Excluded items relate to restructuring and impairment charges. |
(2) | Excluding restructuring and impairment charges. |