Jacuzzi Brands Reports Fourth Quarter And Year Results
Jacuzzi Brands, a global producer of branded bath and plumbing products for the residential, commercial and institutional markets, said its net earnings for the fourth quarter ended Oct. 2 rose to $5.5 million, or 7 cents per share, vs. a net loss of $16.3 million, or 22 cents per share, in the fourth quarter of 2003. Fourth quarter net sales rose by 5% to $343.7 million compared with $327.4 million last year.
In the bath products category, fourth quarter sales were up 3%, led by higher sales of domestic whirlpool baths, both jetted and non-jetted. Sales in the European market were also strong, primarily due to growth in the home center sector. Favorable currency exchange rates contributed to the fourth quarter sales increase but their impact was offset by lower sales at Eljer due to the rationalization of its unprofitable product lines and softness in the domestic spa business.