EX-99 2 xex_99.txt EXHIBIT 99.1 ------------ ANNOUNCEMENT ------------ NEWELL RUBBERMAID JULY 23, 2004 PAGE 1 OF 1 ______________________________________________________________________ Newell Rubbermaid Inc. Atlanta, GA Securities Listed NYSE Common Stock (Symbol: NWL) www.newellrubbermaid.com JESSE HERRON SUSAN MASTEN Vice President, Director, Investor Relations Public Relations 10B Glenlake Parkway, 10B Glenlake Parkway, Suite 600 Suite 600 Atlanta, GA 30328 Atlanta, GA 30328 Phone: 770-407-3994 Phone: 770-407-3817 Fax: 770-407-3983 Fax: 770-407-3983 NEWELL RUBBERMAID UPDATES SEGMENT REPORTING ATLANTA, July 23, 2004 - Newell Rubbermaid Inc. (NYSE: NWL) announced today that it has updated its segment reporting to reflect its recent divesture of Little Tikes Commercial Play Systems, announced July 1, 2004. The segment reporting schedules, which reflect discontinued operations, along with quarterly income statements are included in this release and can also be found on the investor relations portion of the company's web site at www.newellrubbermaid.com. ABOUT NEWELL RUBBERMAID ----------------------- Newell Rubbermaid Inc. is a global marketer of consumer and commercial products with 2003 sales of $7 billion and a powerful brand family including Sharpie{R}, Paper Mate{R}, Parker{R}, Waterman{R}, Rubbermaid{R}, Calphalon{R}, Little Tikes{R}, Graco{R}, Levolor{R}, BernzOmatic{R}, VISE-GRIP{R}, IRWIN{R} and LENOX{R} . The company is headquartered in Atlanta, Ga., and employs over 33,000 employees worldwide. NEWELL RUBBERMAID, INC. QUARTERLY INCOME STATEMENT 2003-2004
2003 Q1 Q2 Q3 -------------------------- --------------------------- -------------------------- Charges Excluding Charges Excluding Charges Excluding Reported (1) Charges Reported (1) Charges Reported (1) Charges -------- ------- --------- -------- ------- --------- -------- ------- --------- Net Sales 1,547.6 - 1,547.6 1,795.3 - 1,795.3 1,729.1 - 1,729.1 GROSS MARGIN 430.2 4.1 434.3 525.0 1.4 526.4 491.8 1.2 493.0 SG&A (287.2) 0.3 (286.9) (319.6) 0.2 (319.4) (298.8) - (298.8) Impairment Restructuring (24.4) 24.4 - (52.8) 52.8 - (32.3) 32.3 - OPERATING INCOME 118.6 28.9 147.5 152.6 54.5 207.1 160.7 33.5 194.3 Non Operating Expense (57.3) 21.1 (36.2) (31.3) - (31.3) (34.6) - (34.6) Income Taxes (19.9) (16.2) (36.1) (39.5) (17.9) (57.4) (40.6) (10.9) (51.5) ------- ----- ------ ------ ----- ------ ------ ----- ------ Income from Continuing Operations 41.4 33.7 75.2 81.9 36.5 118.4 85.5 22.6 108.2 Discontinued operations (25.4) 25.4 - (8.2) 8.2 - (10.3) 10.3 - ------- ----- ------ ------ ----- ------ ------ ----- ------ NET (LOSS)/INCOME 16.0 59.1 75.2 73.8 44.7 118.4 75.2 32.9 108.2 ======= ===== ====== ====== ===== ====== ====== ===== ====== 2003 Q4 Full Year --------------------------------- ------------------------------ Charges Excluding Charges Excluding Reported (1) Charges Reported (1) Charges -------- ------- --------- -------- ------- --------- Net Sales 1,827.0 - 1,827.0 6,899.0 - 6,899.0 GROSS MARGIN 490.2 7.1 497.3 1,937.2 13.8 1,951.0 SG&A (316.1) - (316.1) (1,221.6) 0.5 (1,221.1) Impairment (34.5) 34.5 - (34.5) 34.5 - Restructuring (74.5) 74.5 - (184.0) 184.0 - OPERATING INCOME 65.2 116.0 181.2 497.2 232.8 730.0 Non Operating Expense (36.7) 9.2 (27.5) (159.9) 30.3 (129.6) Income Taxes (24.1) (25.4) (49.5) (124.1) (70.4) (194.4) ------ ------ ------ ------ ------ ------ Income from Continuing Operations 4.4 99.8 104.2 213.2 192.7 406.0 Discontinued Operations (216.0) 216.0 - (259.8) 259.8 - ------ ------ ------ ------ ------ ------ NET (LOSS)/INCOME (211.6) 315.8 104.2 (46.6) 452.5 406.0 ====== ====== ====== ====== ====== ====== 2004 Q1 ------------------------------------------------ Charges Excluding Reported (1) Charges -------- ------- --------- Net Sales 1,532.3 - 1,532.3 GROSS MARGIN 409.3 3.9 413.2 SG&A (310.0) 0.2 (309.8) Impairment Restructing (22.8) 22.8 - OPERATING INCOME 76.6 26.9 103.4 Non Operating Expense (26.6) - (26.6) Income Taxes (15.7) (8.5) (24.2) ------- ------ ------- Income from Continuing Operations 34.2 18.4 52.6 Discontinued Operations (109.1) 109.1 - ------- ------ ------- NET (LOSS)/INCOME (74.9) 127.5 52.6 ======= ====== ======= (1) Charges are primarily related to restructuring, asset repairment, product lines exits, acquisitions and divestitures
NEWELL RUBBERMAID INC. QUARTERLY SALES AND OPERATING INCOME 2002-2004
2002 Q1 Q2 -------------------------------------------- ------------------------------------------- EX. EX. REPORTED CHARGES CHARGES REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ ----- -------- ------- ------- ------ Cleaning & Organization 455.7 47.9 2.0 49.9 10.9% 489.5 40.2 0.7 40.9 8.3% Office Products 334.1 32.2 5.6 37.8 11.3% 480.3 103.9 - 103.9 21.6% Tools & Hardware 112.5 10.9 2.4 13.3 11.8% 201.8 19.6 0.4 20.0 9.9% Home Fashions 222.6 9.7 - 9.7 4.4% 248.1 20.3 - 20.3 8.2% Other 253.0 14.6 0.1 14.7 5.8% 255.2 5.9 (0.4) 5.5 2.2% Corporate - (7.5) - (7.5) - (7.7) - (7.7) Impairment - - - - Restructuring (7.3) 7.3 - (0.1) 0.1 - ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Continuing Operations 1,377.9 100.5 17.4 117.9 8.6% 1,674.9 182.1 0.8 182.9 10.9% Discontinued Operations 219.1 9.7 2.3 12.0 5.5% 220.1 (0.4) 8.9 8.5 3.9% ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Total 1,597.0 110.2 19.7 129.9 8.1% 1,895.0 181.7 9.7 191.4 10.1% ======= ===== ==== ===== ==== ======= ===== ===== ===== ==== 2002 Q3 Q4 -------------------------------------------- ------------------------------------------- EX. EX. REPORTED CHARGES CHARGES REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ ----- -------- ------- ------- ------ Cleaning & Organization 477.6 43.5 (1.2) 42.3 8.9% 479.0 37.4 (2.2) 35.2 7.4% Office Products 437.8 81.2 3.7 84.9 19.4% 431.9 88.8 (0.8) 88.0 20.4% Tools & Hardware 232.9 30.7 5.1 36.8 15.4% 235.8 18.0 8.4 26.4 11.2% Home Fashions 248.5 1.0 - 1.0 0.4% 236.5 13.3 (6.9) 6.4 2.7% Other 294.9 37.2 (0.1) 37.1 12.6% 309.2 36.3 1.4 37.7 12.2% Corporate - (7.5) - (7.5) - (8.4) (0.1) (8.5) Impairment - - - - Restructuring (51.0) 51.0 - (43.4) 43.4 - ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Continuing Operations 1,691.7 135.1 58.5 193.6 11.4% 1,692.4 142.0 43.2 185.2 10.9% Discontinued Operations 256.6 22.3 1.0 23.3 9.1% 321.3 38.4 11.7 50.1 15.6% ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Total 1,948.3 157.4 59.5 216.9 11.1% 2,013.7 180.4 54.9 235.3 11.7% ======= ===== ==== ===== ==== ======= ===== ==== ===== ==== 2002 FULL YEAR -------------------------------------------- EX. REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ Cleaning & Organization 1,901.8 169.0 (0.7) 168.3 8.8% Office Products 1,684.1 306.1 8.5 314.6 18.7% Tools & Hardware 783.0 79.2 16.3 95.5 12.2% Home Fashions 955.7 44.3 (6.9) 37.4 3.9% Other 1,112.3 94.0 1.0 95.0 8.5% Corporate - (31.1) (0.1) (31.2) Impairment - - - - Restructuring - (101.8) 101.8 - ------- ----- ----- ----- ---- Continuing Operations 6,436.9 559.7 119.9 679.6 10.6% Discontinued Operations 1,017.0 70.0 23.9 93.9 9.2% ------- ----- ----- ----- ---- Total 7,453.9 629.7 143.8 773.5 10.4% ======= ===== ===== ===== ==== (1) Charges are primarily related to restructuring, asset impairment, product lines exits, acquisitions and divestitures. NEWELL RUBBERMAID INC. QUARTERLY SALES AND OPERATING INCOME 2002-2004 2003 Q1 Q2 -------------------------------------------- ------------------------------------------- EX. EX. REPORTED CHARGES CHARGES REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ ----- -------- ------- ------- ------ Cleaning & Organization 477.5 40.0 0.4 40.4 8.5% 512.4 21.0 0.2 21.2 4.1% Office Products 322.3 47.1 0.9 48.0 14.9% 507.8 114.8 0.1 114.9 22.6% Tools & Hardware 265.6 35.4 1.5 36.9 13.9% 294.6 47.7 0.6 48.3 16.4% Home Fashions 219.6 4.7 1.3 6.0 2.7% 227.8 7.9 0.7 8.6 3.8% Other 262.6 23.0 0.4 23.4 8.9% 252.7 20.3 0.0 20.3 8.0% Corporate - (7.2) - (7.2) - (6.3) - (6.3) Impairment - - Restructuring (24.4) 24.4 - (52.8) 52.8 - ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Continuing Operations 1,547.6 118.6 28.9 147.5 9.5% 1,795.3 152.6 54.5 207.1 11.5% Discontinued Operations 188.8 (37.5) 35.2 (2.3) -1.2% 180.8 (12.1) 5.7 (6.4) -3.5% ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Total 1,736.4 81.1 64.1 145.2 8.4% 1,976.1 140.5 60.2 200.7 10.2% ======= ===== ==== ===== ==== ======= ===== ===== ===== ==== 2003 Q3 Q4 -------------------------------------------- ------------------------------------------- EX. EX. REPORTED CHARGES CHARGES REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ ----- -------- ------- ------- ------ Cleaning & Organization 514.4 31.9 0.4 32.3 6.3% 509.4 (0.9) (0.0) (1.0) -0.2% Office Products 428.7 69.9 0.1 70.0 16.3% 422.4 77.8 1.3 79.1 18.7% Tools & Hardware 299.3 53.4 0.3 53.7 17.9% 340.2 42.8 (0.2) 42.6 12.5% Home Fashions 223.5 17.5 0.6 18.1 8.1% 230.1 14.3 4.4 18.7 8.1% Other 263.2 31.2 (0.2) 31.0 11.8% 324.9 46.2 1.4 47.6 14.7% Corporate - (10.9) - (10.9) - (5.9) - (5.9) Impairment - (34.5) 34.5 - Restructuring (32.3) 32.3 - (74.5) 74.5 - ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Continuing Operations 1,729.1 160.7 33.5 194.3 11.2% 1,827.0 65.2 116.0 181.2 9.9% Discontinued Operations 215.6 (15.2) 16.9 1.7 0.8% 265.8 (252.4) 262.0 9.6 3.6% ------- ----- ---- ----- ---- ------- ----- ---- ----- ---- Total 1,944.7 145.5 50.4 196.0 10.1% 2,092.8 (187.2) 378.0 190.8 9.1% ======= ===== ==== ===== ==== ======= ===== ===== ===== ==== 2003 FULL YEAR -------------------------------------------- EX. REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ Cleaning & Organization 2,013.7 92.0 0.9 92.9 4.6% Office Products 1,681.2 309.6 2.4 312.0 18.6% Tools & Hardware 1,199.7 179.3 2.2 181.5 15.1% Home Fashions 901.0 44.4 7.0 51.4 5.7% Other 1,103.4 120.7 1.6 122.3 11.1% Corporate - (30.3) - (30.3) Impairment - (34.5) 34.5 - Restructuring - (184.0) 184.0 - ------- ----- ----- ----- ---- Continuing Operations 6,899.0 497.2 232.8 730.0 10.6% Discontinued Operations 851.0 (317.3) 320.0 2.7 0.3% ------- ----- ----- ----- ---- Total 7,750.0 179.9 552.8 732.7 9.5% ======= ===== ===== ===== ==== (1) Charges are primarily related to restructuring, asset impairment, product lines exits, acquisitions and divestitures. NEWELL RUBBERMAID INC. QUARTERLY SALES AND OPERATING INCOME 2002-2004 2004 Q1 -------------------------------------------- EX. REPORTED CHARGES CHARGES SALES OI (1) OI MARGIN ----- -------- ------- ------- ------ Cleaning & Organization 447.4 12.2 3.5 15.7 3.5% Office Products 332.8 31.8 - 31.8 9.6% Tools & Hardware 274.3 43.0 - 43.0 15.7% Home Fashions 226.8 3.9 0.6 4.5 2.0% Other 251.0 15.9 - 15.9 6.3% Corporate - (7.4) - (7.4) Impairment - Restructuring (22.8) 22.8 - ------- ----- ---- ----- ---- Continuing Operations 1,532.3 76.6 26.9 103.4 6.7% Discontinued Operations 142.2 (9.8) 0.0 (9.8) -6.9% ------- ----- ---- ----- ---- Total 1,674.5 66.8 26.9 93.7 5.6% ======= ===== ==== ===== ==== (1) Charges are primarily related to restructuring, asset impairment, product lines exits, acquisitions and divestitures.