Jarden Corp. (NYSE:JAH) Q1 2015 Earnings Conference Call - Final Transcript
Apr 23, 2015 • 08:30 am ET
Good morning ladies and gentlemen, and welcome to the Jarden Corporation's First Quarter 2015 Earnings Conference Call. Today's call is being recorded. (Operator Instructions)
I will now turn the conference over to Rachel Wilson from Jarden's Investor Relations.
Good morning and thank you for joining us for Jarden's 2015 first quarter results conference call. In accordance with Regulation FD or fair disclosure, we're webcasting this conference call. Any redistribution, retransmission of rebroadcast of this call in any form without the express written consent of Jarden is strictly prohibited.
(Forward-Looking Cautionary Statements)
And now, I would like to turn the call over to Executive Chairman, Martin E. Franklin. Martin, please go ahead.
Thank you, Rachel. Good morning and thank you for joining us to discuss our first quarter results. With me on the call today are Jim Lillie, our Chief Executive Officer and Al LeFevre, our Chief Financial Officer.
We've started the year with a solid performance, delivering Q1 results consistent with our 2015 plan. We reported first quarter revenue equal to last year's record results, despite significant continued FX headwinds boosted by positive organic growth and have adjusted EPS in line with expectation, giving us good momentum as we enter our seasonally larger quarters. Al and Jim will be elaborating further on Jarden's financial and operational performance, as well as our outlook.
Let me share with you some highlights of our first quarter. We grew organically by 4.7%, driven by product innovation and continued international momentum. New product development is critical to our success in an area where we direct substantial resources with a strong return on investment. Some of you saw our sample of our 2015 product innovation during our media product showcase held in New York in February. We had over 150 products on display from across all of our business segments.
Many of these products will launch in the fall, such as the American Home FDM line by MG Campbell, the Oster Ball personal blender and Health-o-Meter's New You wireless scale. Exciting innovations such as these will help drive our 2015 performance and revenue growth expectation.
In the first quarter, the Ball brand launched its third in a series of three colored jars in purple as part of its heritage jar program, commemorating the 100-year anniversary of the Ball brother's improved Mason jar design. While a century anniversary is a venerable benchmark, our portfolio includes many brands that are over 100 years old, including Ball, Bicycle, Coleman, Diamond, Hardy, Madshus, Pflueger, Rawlings and Worth.
In fact, 2015 represents the 130th anniversary of Bicycle playing cards. To mark the occasion, Bicycle has created Bicycle 130th anniversary playing cards with the original bicycle big wheel deck design, reminiscent of the big wheel bicycles of the late 19th century. Brand longevity, when coupled with category leadership is truly a powerful combination. This does not happen without a consistent commitment to product innovation as part of Jarden's Our Brand, Our Products, Our People philosophy.
Consumer appreciation and industry recognition are important demonstrations