Spectrum Q4 Profit Misses Estimates But Sales Beat

(RTTNews) - Spectrum Brands Holdings, Inc. (SPB) said it recorded a profit for the fourth quarter, compared with a loss in the prior year period. Adjusted profit fell shy of analysts' expectations, while sales topped.

The company recorded a net profit of $48.1 million or $0.90 per share, compared with a loss of $36.8 million or $0.70 per share last year.

Excluding certain items, Spectrum, reported a profit of $0.98 per share. Prior year adjusted profit was $0.88 per share.

The latest quarter results showed a $133.5 million decline in interest expenses year-over-year.

On average, eight analysts polled by Thomson-Reuters estimated earnings of $1.13. Analysts' estimates typically exclude one-time items.

The Wisconsin based-company reported an EBITDA of $186.8 million for the 3-month period.

Spectrum's net sales increased marginally to $1.18 billion from $1.14 billion in the previous year. Analysts projected sales of $1.16 billion.

Looking ahead, the company expects revenue growth of low to mid-single digits in fiscal 2015, while analysts see $4.59 billion sales.