EX-99.1 2 dex991.htm PRESS RELEASE DATED APRIL 16, 2009 Press Release dated April 16, 2009

Exhibit 99.1

LOGO

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 at www.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 at www.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

LOGO


LOGO

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

LOGO


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.