RYE, N.Y.–Jarden expects its revenue for the fourth quarter to total $1.3 billion, slightly ahead of its previous guidance for the quarter, which it provided in early December.
In a statement issued this morning, the housewares giant said it now expects revenue for all of 2008 to equal $5.35 billion. If these predictions prove true, it would mean that Jarden’s fourth-quarter revenue would have declined by about 13 percent versus the fourth quarter of 2007, while its full-year revenue would have increased by nearly 15 percent over the prior year.
Martin Franklin, Jarden’s chairman and chief executive officer, said the company’s cash position as of the end of the quarter “positions us well from a liquidity and bank-covenant perspective for 2009 and beyond.” The statement said Jarden ended 2008 with more than $360 million in cash on its balance sheet.
