Jarden Reports Second Quarter Results

                    Jarden Reports Second Quarter Results

Record Second Quarter Net Sales of $1.76 Billion

Net Sales Growth of 5% with Organic Sales Growth of Approximately 4%

Record Second Quarter Operating Earnings

PR Newswire

RYE, N.Y., July 25, 2013

RYE, N.Y., July 25, 2013 /PRNewswire/ -- Jarden Corporation (NYSE:JAH) today
reported its financial results for the three and six months ended June 30,
2013.

For the three months ended June 30, 2013:

  oOrganic net sales grew 3.9%;
  oReported net sales were $1.76 billion, compared to $1.68 billion for the
    same period in 2012;
  oReported gross margin was 29.2%, compared to 29.6% for the same period in
    2012;
  oNet income was $76.4 million, compared to net income of $83.2 million for
    the same period in 2012;
  oEarnings per share was $0.71 per diluted share, compared to earnings of
    $0.72 per diluted share for the same period in 2012;
  oAdjusted net income was $95.7 million, compared to $88.0 million for the
    same period in 2012; and
  oAdjusted earnings per share was $0.88 per diluted share, compared to $0.76
    per diluted share for the same period in 2012.

For the six months ended June 30, 2013:

  oOrganic net sales grew 3.9%;
  oReported net sales were $3.34 billion, compared to $3.17 billion for the
    same period in 2012;
  oReported gross margin was 28.7% for 2013, compared to 28.9% for the same
    period in 2012;
  oNet income was $72.0 million, compared to net income of $118.3 million for
    the same period in 2012;
  oEarnings per share was $0.65 per diluted share, compared to earnings of
    $0.97 per diluted share for the same period in 2012;
  oAdjusted gross margin declined approximately 10 basis points to 28.8%,
    compared to gross margin of 28.9% for the same period in 2012;
  oAdjusted net income was $128.8 million, compared to $128.0 million for the
    same period in 2012; and
  oAdjusted earnings per share was $1.17 per diluted share, compared to $1.05
    per diluted share for the same period in 2012.

"Jardendelivered a solid second quarter with strong organic sales growth,
particularly in our Consumer Solutions and Branded Consumables segments. This
top line strength supported approximately 16% growth in our adjusted earnings
per share," said Martin E. Franklin, Executive Chairman. "Our diversified
portfolio of category leading consumer brands continues to provide a powerful
platform from which to execute our growth strategies and deliver consistent,
profitable growth. Our performance during the first half keeps us firmly on
the path to deliver our 2013 top and bottom line guidance."

James E. Lillie, Chief Executive Officer, commented, "I am pleased that the
diversity of our businesses allowed us to deliver another strong quarter while
navigating volatile weather conditions that impacted sales and reorders on
certain higher margin categories. While we remain focused on delivering our
2013 financial goals, we are also working towards our next three to five year
plan to continue to drive shareholder value. This past week our senior
management teams from around the worldattended our annual long range
strategic planning meeting. Our businesses are focused on growth, innovation,
margin and working capital improvements while investing in processes, people
and products to help ensure our continued long-term success."

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 8:30 a.m. (EDT) today, July
25, 2013, to further discuss its second quarter results. To listen to the call
by telephone, please dial 888-438-5453 (domestic) or 719-325-2458
(international) and provide passcode: 5387502. 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: 5387502 or visit www.jarden.com.

Jarden Corporation is a leading provider of a diverse range of consumer
products with a portfolio of over 100 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®, Völkl® 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 #383
on the Fortune 500 and has over 25,000 employees worldwide. For further
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)
               Three months ended
               June 30, 2013                             June 30, 2012
                                                                   
                                            Adjusted                                Adjusted
                 As                                     As           
                 Reported                   (non-GAAP)                              (non-GAAP)
                              Adjustments                Reported     Adjustments
                 (GAAP)(2)                 (1)(2)(4)                               (1)(2)(4)
                              (1)(4)                     (GAAP)(2)   (1)(4)
Net sales      $ 1,758.8    $ --          $ 1,758.8    $ 1,675.6    $ --          $ 1,675.6
Cost of sales    1,245.3      --            1,245.3      1,179.2      --            1,179.2
Gross profit     513.5        --            513.5        496.4        --            496.4
Selling,
general and      332.9        (5.1)         327.8        320.1        (4.0)         316.1
administrative
expenses
Reorganization   1.4          (1.4)         --           --           --            --
costs
Operating        179.2        6.5           185.7        176.3        4.0           180.3
earnings
Interest         46.2         (3.3)         42.9         45.0         --            45.0
expense, net
Loss on early
extinguishment   8.8          (8.8)         --           --           --            --
of debt
Income before    124.2        18.6          142.8        131.3        4.0           135.3
taxes
Income tax
(benefit)        47.8         (0.7)         47.1         48.1         (0.8)         47.3
provision
Net income     $ 76.4       $ 19.3        $ 95.7       $ 83.2       $ 4.8         $ 88.0
Earnings per
share:
Basic          $ 0.71                     $ 0.89       $ 0.72                     $ 0.77
Diluted        $ 0.71                     $ 0.88       $ 0.72                     $ 0.76
Weighted
average shares
outstanding:
Basic            107.6                      107.6        114.8                      114.8
Diluted          108.4                      108.4        115.3                      115.3
See Notes to Earnings Release attached



JARDEN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in millions, except earnings per share)
               Six months ended
               June 30, 2013                             June 30, 2012
                                                                   
                                            Adjusted                                Adjusted
                 As                                     As           
                 Reported                   (non-GAAP)                              (non-GAAP)
                              Adjustments                Reported     Adjustments
                 (GAAP)(2)                 (1)(2)(4)                               (1)(2)(4)
                              (1)(4)                     (GAAP)(2)   (1)(4)
Net sales      $ 3,339.5    $ --          $ 3,339.5    $ 3,171.0    $ --          $ 3,171.0
Cost of sales    2,382.5      (5.0)         2,377.5      2,255.0      --            2,255.0
Gross profit     957.0        5.0           962.0        916.0        --            916.0
Selling,
general and      719.5        (39.2)        680.3        638.1        (8.6)         629.5
administrative
expenses
Reorganization   1.4          (1.4)         --           --           --            --
costs
Operating        236.1        45.6          281.7        277.9        8.6           286.5
earnings
Interest         95.8         (6.3)         89.5         89.7         --            89.7
expense, net
Loss on early
extinguishment   25.9         (25.9)        --           --           --            --
of debt
Income before    114.4        77.8          192.2        188.2        8.6           196.8
taxes
Income tax
(benefit)        42.4         21.0          63.4         69.9         (1.1)         68.8
provision
Net income     $ 72.0       $ 56.8        $ 128.8      $ 118.3      $ 9.7         $ 128.0
Earnings per
share:
Basic          $ 0.66                     $ 1.18       $ 0.98                     $ 1.06
Diluted        $ 0.65                     $ 1.17       $ 0.97                     $ 1.05
Weighted
average shares
outstanding:
Basic            109.3                      109.3        121.0                      121.0
Diluted          110.1                      110.1        121.8                      121.8
See Notes to Earnings Release attached



JARDEN CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in millions)
                                            June 30,   June 30,   December 31,

                                            2013       2012       2012
Assets
Current assets:
Cash and cash equivalents                 $ 788.3    $ 590.2    $ 1,034.1
Accounts receivable, net                    1,180.3    1,097.6    1,137.7
Inventories                                 1,523.4    1,454.8    1,310.3
Deferred taxes on income                    186.5      179.5      174.5
Prepaid expenses and other current assets   170.0      150.5      153.8
Total current assets                        3,848.5    3,472.6    3,810.4
Property, plant and equipment, net          677.2      596.3      678.6
Goodwill                                    1,820.1    1,716.9    1,824.0
Intangible assets, net                      1,240.2    1,143.8    1,256.7
Other assets                                151.1      131.2      140.9
Total assets                              $ 7,737.1  $ 7,060.8  $ 7,710.6
Liabilities and stockholders' equity
Current liabilities:
Short-term debt and current portion of    $ 525.4    $ 481.4    $ 504.7
long-term debt
Accounts payable                            677.8      654.1      615.4
Accrued salaries, wages and employee        161.7      163.7      187.6
benefits
Other current liabilities                   406.4      385.8      421.0
Total current liabilities                   1,771.3    1,685.0    1,728.7
Long-term debt                              3,401.9    2,919.0    3,293.4
Deferred taxes on income                    593.7      506.2      566.8
Other non-current liabilities               357.7      323.9      362.1
Total liabilities                           6,124.6    5,434.1    5,951.0
Total stockholders' equity                  1,612.5    1,626.7    1,759.6
Total liabilities and stockholders'       $ 7,737.1  $ 7,060.8  $ 7,710.6
equity
See Notes to Earnings Release attached



JARDEN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(in millions)
                                                             Three months         Six months ended
                                                             ended
                                                             June 30,   June      June 30,   June 30,
                                                             2013       30,       2013       2012
                                                                        2012
Cash flows from operating activities:
Net income                                                 $ 76.4     $ 83.2    $ 72.0     $ 118.3
Adjustments to reconcile net income to net cash provided
by (used in) operating activities:
 Depreciation and amortization                      38.5       35.3      76.2       71.2
 Stock-based compensation                               7.3        5.5       44.5       24.6
 Venezuela devaluation-related charges                  --         --        27.4       --
Excess tax benefits from stock based compensation            (1.2)      (16.8)    (3.4)      (22.4)
 Other non-cash items                                   3.8        (0.7)     11.4       7.3
Changes in assets and liabilities, net of effects from
acquisitions:
Accounts receivable                                          42.0       48.5      (67.9)     (42.1)
Inventory                                                    (94.7)     (68.8)    (235.3)    (190.3)
Accounts payable                                             49.3       73.7      71.5       100.3
Other current assets and liabilities                         43.4       (9.3)     (37.8)     (63.7)
Net cash provided by (used in) operating activities          164.8      150.6     (41.4)     3.2
Cash flows from financing activities:
Net change in short-term debt                                (3.7)      (10.0)    0.5        78.9
Proceeds from issuance of long-term debt                     267.9      0.3       520.9      300.5
Payments on long-term debt                                   (159.4)    (19.5)    (347.9)    (132.6)
Proceeds from/(repurchase of) common stock, net              1.4        2.3       (263.4)    (433.0)
Debt issue costs                                             (6.5)      (0.2)     (11.6)     (3.4)
Dividends paid                                               --         --        --         (7.5)
Excess tax benefits from stock based compensation            1.2        16.8      3.4        22.4
Other                                                        (4.4)      --        (4.4)      --
Net cash provided by (used in) financing activities          96.5       (10.3)    (102.5)    (174.7)
Cash flows from investing
activities:
Additions to property, plant and equipment                   (48.8)     (26.8)    (73.5)     (50.1)
Other                                                        1.7        6.3       (0.2)      6.3
Net cash used in investing activities                        (47.1)     (20.5)    (73.7)     (43.8)
Effect of exchange rate changes on cash and cash             (5.9)      (10.8)    (28.2)     (2.8)
equivalents
Net increase (decrease) in cash and cash equivalents         208.3      109.0     (245.8)    (218.1)
Cash and cash equivalents at beginning of period             580.0      481.2     1,034.1    808.3
Cash and cash equivalents at end of period                 $ 788.3    $ 590.2   $ 788.3    $ 590.2
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(a) Operating              
                                                                               Segments   Unallocated
                                                                                                      Consolidated
Three months
ended June 30,
2013
Net sales       $  741.1   $  442.5   $   488.3    $  107.2   $    (20.3)      $ 1,758.8  $  --       $  1,758.8
Segment         $  88.8    $  61.7    $   77.9     $  16.7    $    --          $ 245.1    $  (26.0)   $  219.1
earnings (loss)
Adjustments to
reconcile to
reported
operating
earnings(loss):
Reorganization     --         (1.4)       --          --           --            (1.4)       --          (1.4)
costs
Depreciation
and                (13.9)     (7.7)       (13.1)      (2.8)        --            (37.5)      (1.0)       (38.5)
amortization
Operating       $  74.9    $  52.6    $   64.8     $  13.9    $    --          $ 206.2    $  (27.0)   $  179.2
earnings (loss)



                                                                                                      
                Outdoor    Consumer   Branded      Process    Intercompany     Total      Corporate/
                Solutions  Solutions  Consumables  Solutions  Eliminations(a) Operating              
                                                                               Segments   Unallocated
                                                                                                      Consolidated
Three months
endedJune 30,
2012
Net sales       $  747.3   $  403.0   $   439.1    $  103.3   $    (17.1)      $ 1,675.6  $  --       $  1,675.6
Segment         $  95.7    $  53.4    $   68.6     $  14.4    $    --          $ 232.1    $  (20.5)   $  211.6
earnings (loss)
Adjustments to
reconcile to
reported
operating
earnings(loss):
Depreciation
and                (10.4)     (8.6)       (11.6)      (3.7)        --            (34.3)      (1.0)       (35.3)
amortization
Operating       $  85.3    $  44.8    $   57.0     $  10.7    $    --          $ 197.8    $  (21.5)   $  176.3
earnings (loss)
(a) Intersegment sales are recorded at cost plus an agreed-upon intercompany profit on intersegment sales.



JARDEN CORPORATION

NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited)

(in millions)
                                                                                                          
                    Outdoor    Consumer   Branded      Process    Intercompany     Total      Corporate/
                    Solutions  Solutions  Consumables  Solutions  Eliminations(a) Operating              
                                                                                   Segments   Unallocated
                                                                                                          Consolidated
Six months ended
June 30, 2013
Net sales           $ 1,436.0  $  805.8   $   932.0    $  204.8   $    (39.1)      $ 3,339.5  $  --       $  3,339.5
Segment earnings    $ 160.0    $  106.8   $   134.0    $  31.6    $    --          $ 432.4    $  (84.7)   $  347.7
(loss)
Adjustments to
reconcile to
reported operating
earnings(loss):
Reorganization        --          (1.4)       --          --           --            (1.4)       --          (1.4)
costs
Fair market value
adjustment to         (1.5)       --          (3.5)       --           --            (5.0)       --          (5.0)
inventory
Venezuela
devaluation-related   --          --          --          --           --            --          (29.0)      (29.0)
charges
Depreciation and      (27.4)      (15.3)      (25.9)      (5.6)        --            (74.2)      (2.0)       (76.2)
amortization
Operating earnings  $ 131.1    $  90.1    $   104.6    $  26.0    $    --          $ 351.8    $  (115.7)  $  236.1
(loss)



                                                                                                      
                Outdoor    Consumer   Branded      Process    Intercompany     Total      Corporate/
                Solutions  Solutions  Consumables  Solutions  Eliminations(a) Operating              
                                                                               Segments   Unallocated
                                                                                                      Consolidated
Six months
endedJune 30,
2012
Net sales       $ 1,417.4  $  750.9   $   841.7    $  195.1   $    (34.1)      $ 3,171.0  $  --       $  3,171.0
Segment         $ 167.3    $  97.0    $   120.7    $  26.4    $    --          $ 411.4    $  (62.3)   $  349.1
earnings (loss)
Adjustments to
reconcile to
reported
operating
earnings(loss):
Depreciation
and               (24.2)      (15.7)      (23.0)      (6.7)        --            (69.6)      (1.6)       (71.2)
amortization
Operating       $ 143.1    $  81.3    $   97.7     $  19.7    $    --          $ 341.8    $  (63.9)   $  277.9
earnings (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 three and six months ended
June 30, 2013 and 2012. For the three months ended June 30, 2013, adjustments
to net income included $5.1 million of amortization of acquired intangible
assets; $1.4 million of reorganization costs associated with Consumer
Solutions' international operations; $3.3 million of non-cash original issue
discount amortization on the convertible notes; and $8.8 million related to
the loss on early extinguishment of debt. Also, included in the adjustments to
net income for the three months ended June 30, 2013 is the tax benefit
adjustment of $0.7 million, which reflects the normalization of the adjusted
results to the Company's 2013 estimated 33% effective tax rate.

For the three months ended June 30, 2012, adjustments to net income included
$4.0 million of amortization of acquired intangible assets and the tax benefit
adjustment of $0.8 million, which reflects the normalization of the adjusted
results to the Company's estimated 35% effective tax rate.

For the six months ended June 30, 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; $10.2 million of
amortization of acquired intangible assets; $1.4 million of reorganization
costs associated with Consumer Solutions' international operations; $6.3
million of non-cash original issue discount amortization on the convertible
notes; and $25.9 million related to the loss on early extinguishment of debt.
Also, included in the adjustments to net income for the six months ended June
30, 2013 is the tax provision adjustment of $21.0 million, which reflects the
normalization of the adjusted results to the Company's 2013 estimated 33%
effective tax rate.

For the six months ended June 30, 2012, adjustments to net income included
$8.6 million of amortization of acquired intangible assets and the tax benefit
adjustment of $1.1 million, which reflects the normalization of the adjusted
results to the Company's 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 three
and six months ended June 30, 2013:

                                    Three months ended  Six months ended

                                    June 30, 2013       June 30, 2013
Reconciliation of Non- GAAP measure
Net sales growth                    5.0%                5.3%
Foreign exchange impacts            1.7%                1.4%
(Acquisitions)/exited business, net (2.8%)              (2.8%)
Organic net sales growth            3.9%                3.9%

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: FOR: Jarden Corporation, Rachel Wilson, 914-967-9400 or Investor
Relations: Allison Malkin; Press: Alecia Pulman, ICR, Inc., 203-682-8200
 
Press spacebar to pause and continue. Press esc to stop.