May 10, 2013 (Datamonitor via COMTEX) -- Newell Rubbermaid Inc., a marketer of consumer and commercial products, has reported that net income for the first quarter ended March 31, 2013 was $54.2 million, or $0.19 per share, compared to $79.3 million, or $0.27 per share, for the first quarter ended March 31, 2012. The company expects normalized EPS to be in the range of $1.78 to $1.84 for 2013.
Net sales for the first quarter ended March 31, 2013 were $1.24 billion, compared to $1.25 billion for the first quarter ended March 31, 2012.
Gross margin for the first quarter ended March 31, 2013 was $473.6 million, compared to $488 million for the first quarter ended March 31, 2012.
Operating income for the first quarter ended March 31, 2013 was $97.8 million, compared to $123.2 million for the first quarter ended March 31, 2012.
"We've had a good start to the year and made further progress driving the Growth Game Plan into action," said President and CEO Michael Polk.
"Underlying financial results on our continuing business were solid, with particularly strong performances from our Commercial Products, Tools and Baby & Parenting operating segments. Core sales grew 2.5 percent when adjusted for last year's European SAP-related timing shift and normalized EPS grew 9.4 percent to $0.35."
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