ATLANTA, Nov. 6, 2006 /PRNewswire-FirstCall/ -- Newell Rubbermaid Inc.
(NYSE: NWL) today announced that it has completed the previously announced
sale of its Little Tikes business unit to MGA Entertainment, Inc., a global
consumer entertainment products company.
This transaction is consistent with the company's intention to narrow
its portfolio to focus on businesses that are best aligned with its
strategies of differentiated product, best cost and consumer branding.
Little Tikes contributed approximately $250 million in revenue in 2005,
reported in the company's Other segment. In connection with this
transaction, the company continues to expect to record a net gain of $15 to
$25 million in the fourth quarter of 2006.
Caution Concerning Forward-Looking Statements
The statements in this press release that are not historical in nature
constitute forward-looking statements. These forward-looking statements
relate to information or assumptions about the effects of Project
Acceleration, sales, income/(loss), earnings per share, operating income or
gross margin improvements, capital and other expenditures, cash flow,
dividends, restructuring charges, costs and cost savings, debt ratings, and
management's plans, projections and objectives for future operations and
performance. These statements are accompanied by words such as "expect,"
"project," "will," "enable," "estimate" and similar expressions. Actual
results could differ materially from those expressed or implied in the
forward-looking statements. Important factors that could cause actual
results to differ materially from those suggested by the forward-looking
statements include, but are not limited to, our dependence on the strength
of retail economies; competition with other manufacturers and distributors
of consumer products; major retailers' strong bargaining power; changes in
the prices of raw materials; our ability to develop innovative new products
and to develop, maintain and strengthen our end-user brands; our ability to
expeditiously close facilities and move operations while managing foreign
regulations and other impediments; our ability to implement successfully
information technology solutions throughout our organization; our ability
to improve productivity and streamline operations; the risks inherent in
our foreign operations and those factors listed in the company's most
recent quarterly report on Form 10-Q, including Exhibit 99.1 thereto, filed
with the Securities and Exchange Commission.
About the Company
Newell Rubbermaid Inc. is a global marketer of consumer and commercial
products with sales of approximately $6 billion and a strong portfolio of
brands, including Sharpie(R), Paper Mate(R), DYMO(R), EXPO(R), Waterman(R),
Parker(R), Rolodex(R), IRWIN(R), LENOX(R), BernzOmatic(R), Rubbermaid(R),
Graco(R), Calphalon(R) and Goody(R). The company is headquartered in
Atlanta, Ga., and has approximately 26,500 employees worldwide.
This press release and additional information about the company are
available on the company's Web site http://www.newellrubbermaid.com.
NWL-AD
SOURCE Newell Rubbermaid Inc.
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Related links:
http://www.newellrubbermaid.com
http://www.prnewswire.com/comp/138728.html/
CONTACT:
Ron Hardnock, Vice President, Investor
Relations, or Esther Lippman, Senior Manager, Public Relations,
of Newell Rubbermaid Inc., +1-770-407-3994, or fax,
+1-770-407-3983
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