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Jarden Reports First Quarter Results

                     Jarden Reports First Quarter Results

Record First Quarter Net Sales of $1.58 Billion

Net Sales Growth of 5.7% with Organic Net Sales Growth of 4%

Adjusted Gross Margin Expansion of 30 basis points

PR Newswire

RYE, N.Y., April 24, 2013

RYE, N.Y., April 24, 2013 /PRNewswire/ --Jarden Corporation (NYSE:JAH) today
reported its financial results for the quarter ended March 31, 2013.

For the quarter ended March 31, 2013:

  oOrganic net sales grew 4.0%;
  oReported net sales were $1.58 billion, compared to $1.50 billion for the
    same period in 2012;
  oReported gross margin was 28.1% for both 2013 and 2012;
  oNet income declined to a loss of $4.4 million, compared to net income of
    $35.1 million for the same period in 2012;
  oEarnings per share was a loss of $0.04 per share, compared to earnings of
    $0.27 per diluted share for the same period in 2012;
  oAdjusted gross margin increased approximately 30 basis points to 28.4%,
    compared to gross margin of 28.1% for the same period in 2012;
  oAdjusted net income was $33.1 million, compared to $40 million for the
    same period in 2012; and
  oAdjusted diluted earnings per share was $0.30 per diluted share, compared
    to $0.31 per diluted share for the same period in 2012.

"Jarden's strong momentum from 2012 continued in the first quarter, with our
4% organic growth rate positioning us well to achieve our financial goals for
2013," said Martin E.Franklin, Executive Chairman. "The foundation for our
positive sales growth remains our commitment tobrand and product development
spending, which in turn leads to innovative new products. Jarden is unique in
the composition and diversification of our brand and product portfolio, which
we believe provide us with superior opportunities for consistent, profitable
growth. The capital market activity we undertook in the first quarter,
including the3-for-2 stock split which became effective on March 18th,
reflects our planning for and confidence in our long term business prospects."

James E. Lillie, Chief Executive Officer, commented, "It is gratifying that
our strategies and disciplined execution continue to yield results consistent
with our long term financial goals.Having spent much of the first quarter
visiting our domestic and international businesses, I remain confident that
our management teams are fully aligned with ourcorporatefocus on growth,
innovation, margin and working capital improvements, while investing in
processes, people and products to help ensure our long-term success. Commodity
cost increases continue to be relatively benign compared to the last several
years, andwe believe we can deliver an overall organic top-line sales
increase of 3-5% for calendar 2013, while also driving year-over-year
operating margin expansion."

All earnings per share and shares outstanding amounts have been adjusted to
reflect the effect of the 3-for-2 split of the Company's outstanding shares of
common stock that occurred during the first quarter of 2013.

Please see the schedule accompanying this release for a reconciliation of
non-GAAP organic net sales growth, adjusted gross margins, segment earnings,
adjusted net income and adjusted basic and diluted earnings per share to the
comparable GAAP measures.

The Company will be hosting a conference call at 4:45 p.m. (EDT) today, April
24, 2013, to further discuss its first quarter results. To listen to the call
by telephone, please dial 888-505-4375 (domestic) or 719-785-1753
(international) and provide passcode: 4458862. The call will be simultaneously
webcast at www.jarden.com. Supplemental information can be found in the For
Investors section of the Company's website. A replay of the call and webcast
will be available for three weeks shortly after completion of the live call.
To access the replay, call 888-203-1112 (domestic) or 719-457-0820
(international) and provide passcode: 4458862 or visit www.jarden.com.

Jarden Corporation is a leading provider of a diverse range of consumer
products with a portfolio of approximately 120 trusted, quality brands sold
globally. Jarden operates in three primary business segments through a number
of well recognized brands, including: Outdoor Solutions: Abu Garcia®, Aero®,
Berkley®, Campingaz® and Coleman®, ExOfficio®, Fenwick®, Gulp!®, Invicta®,
K2®, Marker®, Marmot®, Mitchell®, Penn®, Rawlings®, Shakespeare®, Stearns®,
Stren®, Trilene®, Volkl® and Zoot®; Consumer Solutions: Bionaire®,
Breville®,Crock-Pot®, FoodSaver®, Health o meter®, Holmes®, Mr. Coffee®,
Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White
Mountain®; and Branded Consumables: Ball®, Bee®, Bernardin®, Bicycle®, Billy
Boy®, Crawford®, Diamond®, Dicon®, Fiona®, First Alert®, First Essentials®,
Hoyle®, Kerr®, Lehigh®, Lifoam®, Lillo®, Loew Cornell®, Mapa®, NUK®, Pine
Mountain®, Quickie®, Spontex® and Tigex®. Headquartered in Rye, N.Y., Jarden
ranks #371 on the Fortune 500 and has over 25,000 employees worldwide. For
in-depth information about Jarden, please visit www.jarden.com.

Note: This news release contains "forward-looking statements" within the
meaning of the federal securities laws and is intended to qualify for the safe
harbor from liability established by the Private Securities Litigation Reform
Act of 1995, including statements regarding the Company's earnings per share
and adjusted diluted earnings per share, expected or estimated revenue,
segment earnings, net interest expense, income tax provision, cash flow from
operations, and reorganization and other non-cash charges, the outlook for the
Company's markets and the demand for its products, consistent profitable
growth, free cash flow, future revenues and gross, operating and EBITDA margin
improvement requirement and expansion, organic net sales growth, bank leverage
ratio, the success of new product introductions, growth in costs and expenses,
the impact of commodities, currencies and transportation costs and the
Company's ability to manage its risk in these areas, repurchase of shares of
common stock from time to time under the Company's stock repurchase program,
our ability to raise new debt, and the impact of acquisitions, divestitures,
restructurings, and other unusual items, including the Company's ability to
integrate and obtain the anticipated results and synergies from its
consummated acquisitions. These projections and statements are based on
management's estimates and assumptions with respect to future events and
financial performance and are believed to be reasonable, though are inherently
uncertain and difficult to predict. Actual results could differ materially
from those projected as a result of certain factors. A discussion of factors
that could cause results to vary is included in the Company's periodic and
other reports filed with the Securities and Exchange Commission.

JARDEN CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(in millions, except earnings per share)
               Quarters ended
               March 31, 2013                          March 31, 2012
                                                                            
                                          Adjusted
                 As                                   As                      Adjusted
                                          (non-GAAP)
                 Reported   Adjustments                Reported   Adjustments   (non-GAAP)
                                          (1)(2)(4)
                 (GAAP)     (1)(4)                     (GAAP)     (1)(4)        (1)(2)(4)
                 (2)                                   (2)
Net sales      $ 1,580.7  $ --          $ 1,580.7    $ 1,495.4  $ --          $ 1,495.4
Cost of sales    1,137.2    (5.0)         1,132.2      1,075.8    --            1,075.8
Gross profit     443.5      5.0           448.5        419.6      --            419.6
Selling,
general and      386.6      (34.1)        352.5        318.0      (4.6)         313.4
administrative
expenses
Operating        56.9       39.1          96.0         101.6      4.6           106.2
earnings
Interest         49.6       (3.0)         46.6         44.7       --            44.7
expense, net
Loss on early
extinguishment   17.1       (17.1)        --           --         --            --
of debt
Income (loss)    (9.8)      59.2          49.4         56.9       4.6           61.5
before taxes
Income tax
(benefit)        (5.4)      21.7          16.3         21.8       (0.3)         21.5
provision
Net (loss)     $ (4.4)    $ 37.5        $ 33.1       $ 35.1     $ 4.9         $ 40.0
income
Earnings
(loss) per
share:
Basic          $ (0.04)                 $ 0.30       $ 0.27                   $ 0.31
Diluted        $ (0.04)                 $ 0.30       $ 0.27                   $ 0.31
Weighted
average shares
outstanding:
Basic            111.1                    111.1        127.3                    127.3
Diluted          111.1                    111.9        128.2                    128.2
See Notes to Earnings Release attached



JARDEN CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(in millions)
                                          March 31,   March 31,   December 31,

                                          2013        2012        2012
Assets
Current assets:
Cash and cash equivalents               $ 580.0     $ 481.2     $ 1,034.1
Accounts receivable, net                  1,236.8     1,169.0     1,137.7
Inventories                               1,442.4     1,409.6     1,310.3
Deferred taxes on income                  166.6       182.4       174.5
Prepaid expenses and other current        191.1       151.8       153.8
assets
Total current assets                      3,616.9     3,394.0     3,810.4
Property, plant and equipment, net        664.2       616.5       678.6
Goodwill                                  1,821.9     1,718.3     1,824.0
Intangible assets, net                    1,245.6     1,155.0     1,256.7
Other assets                              136.1       134.3       140.9
Total assets                            $ 7,484.7   $ 7,018.1   $ 7,710.6
Liabilities and stockholders' equity
Current liabilities:
Short-term debt and current portion of  $ 520.2     $ 483.5     $ 504.7
long-term debt
Accounts payable                          632.7       589.1       615.4
Accrued salaries, wages and employee      154.8       158.7       187.6
benefits
Other current liabilities                 394.7       423.5       421.0
Total current liabilities                 1,702.4     1,654.8     1,728.7
Long-term debt                            3,346.2     2,960.0     3,293.4
Deferred taxes on income                  566.4       509.5       566.8
Other non-current liabilities             352.2       333.0       362.1
Total liabilities                         5,967.2     5,457.3     5,951.0
Total stockholders' equity                1,517.5     1,560.8     1,759.6
Total liabilities and stockholders'     $ 7,484.7   $ 7,018.1   $ 7,710.6
equity
See Notes to Earnings Release attached



JARDEN CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in millions)
                                                                                                                   Quarters ended
                                                                                                                   March      March
                                                                                                                   31,        31,

                                                                                                                   2013       2012
Cash flows from operating activities:
Net income (loss)                                                                                                $ (4.4)    $ 35.1
Adjustments to reconcile net (loss) income to net cash used in operating
activities:
 Depreciation and amortization                                                                            37.7       35.9
 Stock-based compensation                                                                                     37.2       19.1
 Venezuela devaluation-related charges                                                                        27.4       --
 Other non-cash items                                                                                         5.4        2.4
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable                                                                                                (109.9)    (90.6)
Inventory                                                                                                          (140.6)    (121.5)
Accounts payable                                                                                                   22.2       26.6
Other current assets and liabilities                                                                               (81.2)     (54.4)
Net cash used in operating activities                                                                              (206.2)    (147.4)
Cash flows from financing activities:
Net change in short-term debt                                                                                      4.2        88.9
Proceeds from issuance of long-term debt                                                                           253.0      300.2
Payments on long-term debt                                                                                         (188.5)    (113.1)
(Repurchase of)/ proceeds from common stock, net                                                                   (264.8)    (435.3)
Debt issue costs                                                                                                   (5.1)      (3.2)
Other                                                                                                              2.2        (1.9)
Net cash used in financing activities                                                                              (199.0)    (164.4)
Cash flows from investing activities:
Additions to property, plant and equipment                                                                         (24.7)     (23.3)
Other                                                                                                              (1.9)      --
Net cash used in investing activities                                                                              (26.6)     (23.3)
Effect of exchange rate changes on cash and cash equivalents                                                       (22.3)     8.0
Net decrease in cash and cash equivalents                                                                          (454.1)    (327.1)
Cash and cash equivalents at beginning of period                                                                   1,034.1    808.3
Cash and cash equivalents at end of period                                                                       $ 580.0    $ 481.2
See Notes to Earnings Release attached



JARDEN CORPORATION
NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited)
(in millions)
                                                                                                      
                    Outdoor    Consumer   Branded      Process    Intercompany Total      Corporate/
                    Solutions  Solutions  Consumables  Solutions  Eliminations Operating              
                                                                  (a)          Segments   Unallocated
                                                                                                      Consolidated
Quarter ended March
31, 2013
Net sales           $  694.9   $  363.3   $   443.7    $  97.6    $  (18.8)    $ 1,580.7  $  --       $  1,580.7
Segment earnings    $  71.2    $  45.1    $   56.1     $  14.9    $  --        $ 187.3    $  (58.7)   $  128.6
(loss)
Adjustments to
reconcile to
reported operating
earnings(loss):
Fair market value
adjustment to          (1.5)      --          (3.5)       --         --          (5.0)       --          (5.0)
inventory
Venezuela
devaluation-related    --         --          --          --         --          --          (29.0)      (29.0)
charges
Depreciation and       (13.5)     (7.6)       (12.8)      (2.8)      --          (36.7)      (1.0)       (37.7)
amortization
Operating earnings  $  56.2    $  37.5    $   39.8     $  12.1    $  --        $ 145.6    $  (88.7)   $  56.9
(loss)
                                                                                                      
                    Outdoor    Consumer   Branded      Process    Intercompany Total      Corporate/
                    Solutions  Solutions  Consumables  Solutions  Eliminations Operating              
                                                                  (a)          Segments   Unallocated
                                                                                                      Consolidated
Quarter endedMarch
31, 2012
Net sales           $  670.1   $  347.9   $   402.6    $  91.8    $  (17.0)    $ 1,495.4  $  --       $  1,495.4
Segment earnings    $  71.6    $  43.6    $   52.1     $  12.0    $  --        $ 179.3    $  (41.8)   $  137.5
(loss)
Adjustments to
reconcile to
reported operating
earnings(loss):
Depreciation and       (13.8)     (7.1)       (11.4)      (3.0)      --          (35.3)      (0.6)       (35.9)
amortization
Operating earnings  $  57.8    $  36.5    $   40.7     $  9.0     $  --        $ 144.0    $  (42.4)   $  101.6
(loss)
(a) Intersegment sales are recorded at cost plus an agreed-upon intercompany profit on intersegment sales.

Jarden Corporation
Notes to Earnings Release

Note 1: Adjustments relate to items that are excluded from the "As Reported"
results to arrive at the "Adjusted" results for the quarters ended March 31,
2013 and 2012. For the quarter ended March 31, 2013, adjustments to net
income included $5.0 million associated with the manufacturer's profit in
inventory charged to cost of sales which is the purchase accounting fair value
adjustment to inventory associated with December 2012 acquisitions; $29.0
million of Venezuela devaluation-related charges primarily attributable to the
devaluation of the Venezuelan Bolivar in February 2013; $5.1 million of
amortization of acquired intangible assets; $3.0 million of non-cash original
issue discount amortization on the convertible notes; and $17.1 million
related to the loss on early extinguishment of debt. Also, included in the
adjustments to net income for the quarter ended March 31, 2013 is the tax
provision adjustment of $21.7 million, which reflects the normalization of the
adjusted results to the Company's 2013 estimated 33% effective tax rate.

For the quarter ended March 31, 2012, adjustments to net income included $4.6
million of amortization of acquired intangible assets and the tax provision
adjustment of a benefit of $0.3 million, which reflects the normalization of
the adjusted results to the Company's 2012 estimated 35% effective tax rate.

Note 2: All earnings per share and shares outstanding amounts have been
adjusted to reflect the effect of the 3-for-2 split of the Company's
outstanding shares of common stock that occurred during the first quarter of
2013.

Note 3: Organic net sales growth is a non-GAAP measure of net sales growth
excluding the impacts of foreign exchange, certain acquisitions and exited
business from year-over-year comparisons. The Company believes this measure
provides investors with a more complete understanding of the underlying sales
trends by providing net sales on a consistent basis. Organic net sales growth
is also one of the measures used by management to analyze operating
performance. The following table provides a reconciliation of organic net
sales growth to the comparable GAAP measure of net sales growth for the
quarter ended March 31, 2013:

                                    Quarter ended

                                    March 31, 2013
Reconciliation of Non- GAAP measure
Net sales growth                    5.7%
Foreign exchange impacts            1.1%
(Acquisitions)/exited business, net (2.8%)
Organic net sales growth            4.0%

Note 4: This earnings release contains non-GAAP financial measures that may
not be directly comparable to other similarly titled measures used by other
companies. For purposes of Regulation G, a non-GAAP financial measure is a
numerical measure of a company's historical or future financial performance,
financial position or cash flows that excludes amounts, or is subject to
adjustments that have the effect of excluding amounts, that are included in
the most directly comparable measure calculated and presented in accordance
with GAAP in the statements of operations, balance sheets, or statements of
cash flows of the Company; or includes amounts, or is subject to adjustments
that have the effect of including amounts, that are excluded from the most
directly comparable measure so calculated and presented. Pursuant to the
requirements of Regulation G, the Company has provided reconciliations of the
non-GAAP financial measures to the most directly comparable GAAP financial
measures. These non-GAAP measures are provided because management of the
Company uses these financial measures in monitoring and evaluating the
Company's ongoing financial results and trends. Management uses this non-GAAP
information as an indicator of business performance, and evaluates overall
management with respect to such indicators. Additionally, the Company uses
non-GAAP financial measures because the Company's credit agreement provides
for certain adjustments in calculations used for determining whether the
Company is in compliance with certain credit agreement covenants, including,
but not limited to, adjustments relating to non-cash purchase accounting
adjustments, non-cash impairment charges of goodwill, intangibles and other
assets, certain net reorganization costs and acquisition-related and other
charges, transaction and integration costs, Venezuela hyperinflationary and
devaluation-related charges, gains and losses as a result of currency
fluctuations, gain on the sale of a domestic business, non-cash stock-based
compensation costs, loss on early extinguishment of debt, non-cash original
issue discount amortization and other items. Adjusted gross margin is
calculated by dividing adjusted gross profit by net sales. Segment earnings
(as adjusted EBITDA) margin is calculated by dividing segment earnings (as
adjusted EBITDA) by net sales. Adjusted net interest expense is calculated by
deducting original issue discount amortization from net interest expense.
Adjusted income tax provision is calculated by adding the income tax provision
adjustment, which reflects the normalization of the adjusted results to the
Company's estimated effective tax rate, to the income tax provision. These
non-GAAP measures should be considered in addition to, but not as a substitute
for, measures of financial performance prepared in accordance with GAAP.

SOURCE Jarden Corporation

Website: http://www.jarden.com
Contact: Rachel Wilson, 914-967-9400; Investor Relations: Allison Malkin,
Press: Alecia Pulman, ICR, Inc., 203-682-8200
 
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