Rayovac Renewed

Rayovac (NYSE: ROV  ) shares jumped 10% Friday to near $23 per share, after the company upped its first-quarter earnings expectations Thursday afternoon. Apparently, batteries and razorblades mix well.

You might recall that Rayovac acquired Remington Products at the end of this past summer in a deal worth more than $300 million. As a result, it competes just a little more directly with both Gillette (NYSE: G  ) - the maker of Duracell batteries and the three-bladed Mach3 razor -- and Energizer (NYSE: ENR  ) . Energizer also picked up Schick razors from Pfizer (NYSE: PFE  ) this past year, and has brought the four-bladed Schick Quattro ( get it?) to the table.

For the first quarter ended Dec. 29, Rayovac said that earnings would now come between $0.62 and $0.65 per share, rather than $0.58 and $0.62. Revenues, including the September acquisition of Remington, are expected to rise 11% on a pro forma basis to $454 million.

The company linked the stronger performance to improving alkaline battery sales in the U.S., while seeing some improvement in Latin American business conditions. In addition, Remington saw sales growth due to the rollout of new shaving products. The company also pointed to foreign currency strength in Europe as another reason for its improved results.

Rayovac shares have more than doubled since coming off all-time lows of just under $10 last spring. Still, given the company's strong performance, the stock looks reasonably priced at about 13 times this year's earnings.

Interested in battery-powered razor stocks or razor-cut battery stocks? Visit the Gillette, Energizer, and Rayovac boards -- only at Fool.com.

Jeff Hwang can be reached at JHwang@fool.com.