Profit for Atlanta-based Newell Rubbermaid dropped slightly in the second quarter, the company said Friday.
Net income was $109.8 million or 37 cents a share in the quarter, down 2 percent from $111.8 million or 38 cents a share during the same period last year.
The company, which makes Sharpie pens, Calphalon cookware and Levolor blinds, blamed the drop on “increased restructuring costs and losses associated with discontinued operations.”
On the bright side, the consumer goods giant raised its full-year earnings. The company raised its guidance to $1.80 to $1.84 a year, an 8 percent to 10 percent increase year over year.
“We are well positioned to accelerate core growth in the back half of the year fueled by new item launches in commercial products, tools, writing and baby and strengthened brand investment,” said Michael Polk, Newell Rubbermaid’s president and chief executive officer.
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