Jarden expects adjusted 1Q profit to beat view

Jarden Corp., an appliance and consumer products company, said Thursday that its first-quarter adjusted profit will easily top Wall Street's expectations.

Jarden, whose brands include Coleman, Rawlings, Mr. Coffee and Oster, said it expects full-year adjusted earnings to meet or beat analysts' estimates.

Its stock rose $2.21, or 13.6 percent, to $18.52 in morning trading. The stock has traded in a range of $7.20 to $27.93 over the past year.

Jarden anticipates first-quarter adjusted profit of 21 cents to 23 cents per share on sales of $1.14 billion. Analysts surveyed by Thomson Reuters expected earnings of 12 cents per share for the quarter.

Adjusted earnings typically exclude one-time items as do analysts' estimates.

The company did not give a specific estimate or range for the year. Analysts forecast Jarden's adjusted profit at $2.44 per share for 2009.

Last month Jarden maintained its outlook for full-year revenue of $5 billion. Analysts expect sales of $5.02 billion.