Jarden Reports Record Fourth Quarter and Full Year Results

          Jarden Reports Record Fourth Quarter and Full Year Results

Record Fourth Quarter Net Sales of $2.2 Billion

Fourth Quarter Net Sales Growth of 21.8%

Fourth Quarter Organic Net Sales Growth of 4.0%

Record Full Year Operating Cash Flow of $669 Million

PR Newswire

MIAMI, Feb. 13, 2014

MIAMI, Feb. 13, 2014 /PRNewswire/ -- Jarden Corporation (NYSE: JAH) today
reported its financial results for the fourth quarter and year ended December
31, 2013.

For the quarter ended December 31, 2013:

  oOrganic net sales grew 4.0% or $73 million;
  oReported net sales were $2.2 billion, compared to $1.8 billion for the
    same period in 2012;
  oReported gross margin was 27.3% for 2013 compared to 27.9% for the same
    period in 2012;
  oNet income was $37.0 million, compared to $48.7 million for the same
    period in 2012;
  oEarnings per share was $0.29 per diluted share, compared to $0.43 per
    diluted share for the same period in 2012;
  oAdjusted gross margin was 31.7% compared to 28.1% for the same period in
    2012;
  oAdjusted net income was $167 million, compared to $96.7 million for the
    same period in 2012; and
  oAdjusted diluted earnings per share was $1.31 per diluted share, compared
    to $0.85 per diluted share for the same period in 2012.

For the year ended December 31, 2013:

  oOrganic net sales grew 4.4% or approximately $293 million;
  oReported net sales were $7.4 billion, compared to $6.7 billion for the
    same period in 2012;
  oReported gross margin was 28.3% for 2013, compared to 28.7% for the same
    period in 2012;
  oNet income was $204 million, compared to $244 million for the same period
    in 2012;
  oEarnings per share was $1.77 per diluted share, compared to $2.06 per
    diluted share for the same period in 2012;
  oAdjusted gross margin was 29.8% compared to 29.0% for the same period in
    2012;
  oAdjusted net income was $413 million, compared to $329 million for the
    same period in 2012; and
  oAdjusted diluted earnings per share was $3.59 per diluted share, compared
    to $2.78 per diluted share for the same period in 2012.

"The fourth quarter included several noteworthy accomplishments including the
completion of the Yankee Candle acquisition," said Martin E. Franklin,
Executive Chairman. "We are proud to once again be the top performing consumer
stock as compared to Household and Personal Care peers in the S&P 500 Consumer
Staples Index for 2013 on a one-, five-, and ten-year basis. We look forward
to delivering a strong 2014, while also focusing on making the investments to
achieve our long-term goals. I would like to take the opportunity to
recognize the over 140 athletes from 25 different countries who are using
Jarden brands, including K2®, Madshus®, Marker®, Marmot® and Völkl®, on their
remarkable achievement in representing their countries at the Sochi Winter
Olympics."

James E. Lillie, Chief Executive Officer commented, "2013 marks a year of
record revenues, record segment earnings, record operating cash flow, and
record adjusted earnings per share. We delivered organic growth across all of
our business segments for the fourth quarter as well as in each of the
quarters throughout 2013, reflecting broad based portfolio strength and
disciplined execution. Among the highlights of Jarden's performance in 2013
was the growth in our Crock-Pot®, FoodSaver® and Oster® brands within Jarden
Consumer Solutions, as well as the performance of our Ball® and First Alert®
brands within Jarden Branded Consumables. We are excited about the outlook for
2014 and beyond given the core momentum in our business and the strength of
our team."

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. (EST) today,
February 13, 2014, to further discuss its fourth quarter and full year
results. To listen to the call by telephone, please dial 888-395-3227
(domestic) or 719-325-2464 (international) and provide passcode: 9253568. 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:
9253568 or visit www.jarden.com.

Jarden Corporation is a leading provider of a diverse range of consumer
products with a portfolio of over 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®, AeroBed®,
Berkley®, Campingaz® and Coleman®, ExOfficio®, Fenwick®, Greys®, Gulp!®,
Hardy®, Invicta®, K2®, Madshus®, Marker®, Marmot®, Mitchell®, PENN®,
Rawlings®, Ride®, Sevylor®,Shakespeare®, Stearns®, Stren®, Trilene®, Volkl®,
Worth® 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®, ProPak®,
Quickie®, Spontex®, Tigex® and Yankee Candle®. Headquartered in Florida,
Jarden ranks #383 on the Fortune 500 and has over 30,000 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,
meeting financial goals, 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, performance trends, 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
               December 31, 2013                       December 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      $ 2,215.6  $ --          $ 2,215.6    $ 1,819.2  $ --          $ 1,819.2
Cost of sales    1,611.5    (97.7)        1,513.8      1,311.8    (3.6)         1,308.2
Gross profit     604.1      97.7          701.8        507.4      3.6           511.0
Selling,
general and      444.0      (38.9)        405.1        359.5      (43.7)        315.8
administrative
expenses
Reorganization   17.6       (17.6)        --           17.8       (17.8)        --
costs, net
Operating        142.5      154.2         296.7        130.1      65.1          195.2
earnings
Interest         52.1       (4.9)         47.2         49.5       (3.0)         46.5
expense, net
Income before    90.4       159.1         249.5        80.6       68.1          148.7
taxes
Income tax       53.4       28.9          82.3         31.9       20.1          52.0
provision
Net income     $ 37.0     $ 130.2       $ 167.2      $ 48.7     $ 48.0        $ 96.7
Earnings per
share:
Basic          $ 0.30                   $ 1.34       $ 0.43                   $ 0.86
Diluted        $ 0.29                   $ 1.31       $ 0.43                   $ 0.85
Weighted
average shares
outstanding:
Basic            124.7                    124.7        112.7                    112.7
Diluted          127.8                    127.8        113.6                    113.6
See Notes to Earnings Release attached

JARDEN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in millions, except earnings per share)
               Years ended
               December 31, 2013                       December 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      $ 7,355.9  $ --          $ 7,355.9    $ 6,696.1  $ --          $ 6,696.1
Cost of sales    5,271.6    (111.2)       5,160.4      4,771.7    (14.8)        4,756.9
Gross profit     2,084.3    111.2         2,195.5      1,924.4    14.8          1,939.2
Selling,
general and      1,489.4    (89.7)        1,399.7      1,320.5    (68.9)        1,251.6
administrative
expenses
Reorganization   22.0       (22.0)        --           27.1       (27.1)        --
costs, net
Operating        572.9      222.9         795.8        576.8      110.8         687.6
earnings
Interest         195.4      (16.1)        179.3        185.3      (3.3)         182.0
expense, net
Loss on early
extinguishment   25.9       (25.9)        --           --         --            --
of debt
Income before    351.6      264.9         616.5        391.5      114.1         505.6
taxes
Income tax       147.7      55.7          203.4        147.6      29.3          176.9
provision
Net income     $ 203.9    $ 209.2       $ 413.1      $ 243.9    $ 84.8        $ 328.7
Earnings per
share:
Basic          $ 1.79                   $ 3.63       $ 2.08                   $ 2.80
Diluted        $ 1.77                   $ 3.59       $ 2.06                   $ 2.78
Weighted
average shares
outstanding:
Basic            113.7                    113.7        117.4                    117.4
Diluted          115.1                    115.1        118.2                    118.2
See Notes to Earnings Release attached





JARDEN CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in millions)
                                                   December 31,   December 31,

                                                   2013           2012
Assets
Current assets:
Cash and cash equivalents                        $ 1,128.5      $ 1,034.1
Accounts receivable, net                           1,196.1        1,137.7
Inventories                                        1,411.9        1,310.3
Deferred taxes on income                           185.7          174.5
Prepaid expenses and other current assets          161.3          153.8
Total current assets                               4,083.5        3,810.4
Property, plant and equipment, net                 852.6          678.6
Goodwill                                           2,620.3        1,824.0
Intangible assets, net                             2,393.0        1,256.7
Other assets                                       146.7          140.9
Total assets                                     $ 10,096.1     $ 7,710.6
Liabilities and stockholders' equity
Current liabilities:
Short-term debt and current portion of long-term $ 655.1        $ 504.7
debt
Accounts payable                                   664.2          615.4
Accrued salaries, wages and employee benefits      192.6          187.6
Other current liabilities                          527.5          421.0
Total current liabilities                          2,039.4        1,728.7
Long-term debt                                     4,087.3        3,293.4
Deferred taxes on income                           1,065.3        566.8
Other non-current liabilities                      354.4          362.1
Total liabilities                                  7,546.4        5,951.0
Total stockholders' equity                         2,549.7        1,759.6
Total liabilities and stockholders' equity       $ 10,096.1     $ 7,710.6
See Notes to Earnings Release attached



JARDEN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(in millions)
                                                             Quarters ended          Years ended
                                                             December     December   December     December
                                                             31,          31,        31, 2        31,

                                                             2013         2012       013          2012
Cash flows from operating activities:
Net income                                                 $ 37.0       $ 48.7     $ 203.9      $ 243.9
Adjustments to reconcile net income to net cash provided
by operating activities:
 Depreciation and amortization                      50.1         42.9       165.9        152.8
 Stock based compensation                               45.9         36.9       95.8         67.1
Venezuela hyperinflationary and devaluation charges          --           --         27.4         --
Excess tax benefits from stock based compensation            (0.2)        (0.3)      (11.6)       (43.0)
 Other non-cash items                                   (19.0)       33.5       --           29.8
Changes in assets and liabilities, net of effects from
acquisitions:
Accounts receivable                                          129.7        73.3       16.9         (23.6)
Inventory                                                    390.8        265.0      103.9        30.0
Accounts payable                                             (48.8)       (46.6)     4.5          34.5
Other assets and liabilities                                 19.8         (54.5)     61.8         (11.2)
Net cash provided by operating activities                    605.3        398.9      668.5        480.3
Cash flows from financing activities:
Net change in short-term debt                                113.3        (8.9)      102.0        74.7
Proceeds from issuance of long-term debt                     746.3        1.9        1,273.4      802.5
Payments on long-term debt                                   (31.7)       (19.5)     (407.7)      (172.7)
(Repurchase of) proceeds from common stock, net              (19.2)       (21.3)     450.5        (557.9)
Debt issuance costs                                          (7.4)        --         (19.8)       (17.4)
Dividends paid                                               --           --         --           (7.5)
Excess tax benefits from stock based compensation            0.2          0.3        11.6         43.0
Other                                                        --           --         (4.4)        --
Net cash provided by (used in) financing activities          801.5        (47.5)     1,405.6      164.7
Cash flows from investing
activities:
Additions to property, plant and equipment                   (95.4)       (77.6)     (211.0)      (154.5)
Acquisition of businesses, net of cash acquired              (1,807.4)    (131.1)    (1,820.1)    (286.3)
Other                                                        65.9         3.5        73.7         13.3
Net cash used in investing activities                        (1,836.9)    (205.2)    (1,957.4)    (427.5)
Effect of exchange rate changes on cash and cash             (1.7)        1.2        (22.3)       8.3
equivalents
Net (decrease) increase in cash and cash equivalents         (431.8)      147.4      94.4         225.8
Cash and cash equivalents at beginning of period             1,560.3      886.7      1,034.1      808.3
Cash and cash equivalents at end of period                 $ 1,128.5    $ 1,034.1  $ 1,128.5    $ 1,034.1
See Notes to Earnings Release attached



JARDEN CORPORATION

NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited)

(in millions)
                                      Branded                 Intercompany Total                  
                Outdoor    Consumer                Process                            Corporate/
                                      Consumables             Eliminations Operating              
                Solutions  Solutions  (b)          Solutions  (a)                     Unallocated
                                                                           Segments               Consolidated
Quarter ended
December 31,
2013
Net sales       $  617.8   $  696.8   $   823.5    $  96.4    $  (18.9)    $ 2,215.6  $  --       $  2,215.6
Segment         $  48.7    $  119.2   $   188.7    $  8.6     $  --        $ 365.2    $  (26.5)   $  338.7
earnings (loss)
Adjustments to
reconcile to
reported
operating
earnings(loss):
Reorganization     (10.3)     (0.3)       (7.0)       --         --          (17.6)      --          (17.6)
costs, net
Fair market
value              --         --          (78.9)      --         --          (78.9)      --          (78.9)
adjustments to
inventory
Acquisition and
integration        (25.1)     (1.4)       (6.5)       --         --          (33.0)      22.2        (10.8)
related costs
Stock
compensation       --         --          --          --         --          --          (38.8)      (38.8)
adjustment
Depreciation
and                (15.2)     (8.8)       (22.3)      (2.9)      --          (49.2)      (0.9)       (50.1)
amortization
Operating       $  (1.9)   $  108.7   $   74.0     $  5.7     $  --        $ 186.5    $  (44.0)   $  142.5
earnings (loss)



                                                              Intercompany                        
                Outdoor    Consumer   Branded      Process                 Total      Corporate/
                Solutions  Solutions  Consumables  Solutions  Eliminations Operating              
                                                              (a)          Segments   Unallocated
                                                                                                  Consolidated
Quarter
endedDecember
31, 2012
Net sales       $  617.9   $  680.4   $   452.4    $  84.4    $  (15.9)    $ 1,819.2  $  --       $  1,819.2
Segment         $  61.7    $  109.9   $   66.2     $  7.8     $  --        $ 245.6    $  (16.2)   $  229.4
earnings (loss)
Adjustments to
reconcile to
reported
operating
earnings(loss):
Reorganization     (3.3)      (14.1)      (0.4)       --         --          (17.8)      --          (17.8)
costs, net
Acquisition and
integration        --         --          (2.4)       --         --          (2.4)       (2.6)       (5.0)
related costs
Stock
compensation       --         --          --          --         --          --          (33.6)      (33.6)
adjustment
Depreciation
and                (17.2)     (8.8)       (12.2)      (3.8)      --          (42.0)      (0.9)       (42.9)
amortization
Operating       $  41.2    $  87.0    $   51.2     $  4.0     $  --        $ 183.4    $  (53.3)   $  130.1
earnings (loss)



(a) Intersegment sales are recorded at cost plus an agreed-upon intercompany
      profit on intersegment sales.
(b)  The fourth quarter includes Yankee Candle's results from the date of
      acquisition of October 3, 2013.



JARDEN CORPORATION

NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited)

(in millions)
                                          Branded                                                     
                    Outdoor    Consumer                Process    Intercompany Total      Corporate/
                    Solutions  Solutions  Consumables  Solutions  Eliminations Operating              
                                          (b)                     (a)          Segments   Unallocated
                                                                                                      Consolidated
Year ended December
31, 2013
Net sales           $ 2,724.4  $ 2,040.0  $  2,266.6   $  403.6   $  (78.7)    $ 7,355.9  $  --       $  7,355.9
Segment earnings    $ 298.4    $ 307.2    $  411.1     $  51.7    $  --        $ 1,068.4  $  (132.4)  $  936.0
(loss)
Adjustments to
reconcile to
reported operating
earnings(loss):
Reorganization        (11.7)     (3.3)       (7.0)        --         --          (22.0)      --          (22.0)
costs, net
Fair market value
adjustment to         (7.4)      --          (82.4)       --         --          (89.8)      --          (89.8)
inventory
Acquisition and
integration related   (25.9)     (1.4)       (7.4)        --         --          (34.7)      17.1        (17.6)
costs
Venezuela
devaluation-related   --         --          --           --         --          --          (29.0)      (29.0)
charges
Stock compensation    --         --          --           --         --          --          (38.8)      (38.8)
adjustment
Depreciation and      (57.3)     (32.5)      (60.8)       (11.3)     --          (161.9)     (4.0)       (165.9)
amortization
Operating earnings  $ 196.1    $ 270.0    $  253.5     $  40.4    $  --        $ 760.0    $  (187.1)  $  572.9
(loss)



                                                              Intercompany                        
                Outdoor    Consumer   Branded      Process                 Total      Corporate/
                Solutions  Solutions  Consumables  Solutions  Eliminations Operating              
                                                              (a)          Segments   Unallocated
                                                                                                  Consolidated
Year
endedDecember
31, 2012
Net sales       $ 2,692.9  $ 1,940.9  $  1,753.1   $  377.1   $  (67.9)    $ 6,696.1  $  --       $  6,696.1
Segment         $ 325.2    $ 285.9    $  259.2     $  47.1    $  --        $ 917.4    $  (103.6)  $  813.8
earnings (loss)
Adjustments to
reconcile to
reported
operating
earnings(loss):
Reorganization    (12.6)     (14.1)      (0.4)        --         --          (27.1)      --          (27.1)
costs, net
Fair market
value             (2.8)      (3.2)       --           --         --          (6.0)       --          (6.0)
adjustment to
inventory
Acquisition and
integration       (3.9)      (1.6)       (3.8)        --         --          (9.3)       (8.2)       (17.5)
related costs
Stock
compensation      --         --          --           --         --          --          (33.6)      (33.6)
adjustment
Depreciation
and               (55.2)     (34.7)      (46.0)       (13.5)     --          (149.4)     (3.4)       (152.8)
amortization
Operating       $ 250.7    $ 232.3    $  209.0     $  33.6    $  --        $ 725.6    $  (148.8)  $  576.8
earnings (loss)



(a) Intersegment sales are recorded at cost plus an agreed-upon intercompany
      profit on intersegment sales.
(b) The full year includes Yankee Candle's results from the date of
      acquisition of October 3, 2013.



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 and years ended
December 31, 2013 and 2012. For the quarter ended December 31, 2013,
adjustments to net income included $78.9 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 the
Yankee Candle acquisition; $1.8 million of accelerated depreciation primarily
associated with the rationalization of international manufacturing facilities;
$33.0 million of integration related costs primarily associated with the
rationalization of international manufacturing facilities; $22.2 million net
gain primarily associated with the gain on the sale of an investment; $38.8
million of anon-cashstock compensation adjustmentassociated with certain
restricted stock; $17.6 million of reorganization costs primarily associated
with international operations; $6.3 million of amortization of acquired
intangible assets; and $4.9 million of non-cash original issue discount
amortization on the convertible notes. Also, included in the adjustments to
net income for the quarter ended December 31, 2013 is the tax provision
adjustment of $28.9 million, which reflects the normalization of the adjusted
results to the Company's 2013 estimated 33% effective tax rate.

For the quarter ended December 31, 2012, adjustments to net income included
$3.6 million of accelerated depreciation recorded in cost of sales primarily
associated with the rationalization of international manufacturing facilities;
$33.6 million of non-cash cumulative adjustment of stock compensation
associated with certain restricted stock, related to achieving a goal of
split-adjusted $3.33 adjusted EPS by 2013; $17.8 million of reorganization
costs primarily associated with the rationalization of international
manufacturing facilities; $5.0 million of acquisition related and other costs;
$5.1 million of amortization of acquired intangible assets; and $3.0 million
of non-cash original issue discount amortization on the convertible notes.
Also, included in the adjustments to net income for the quarter ended December
31, 2012 is the tax provision adjustment of $20.1 million, which reflects the
normalization of the adjusted results to the Company's estimated 35% effective
tax rate.

For the year ended December 31, 2013, adjustments to net income included $89.8
million associated with the manufacturer's profit in inventory charged to cost
of sales which is the purchase accounting fair value adjustment to inventory
primarily associated with the Yankee Candle acquisition; $4.0 million of
accelerated depreciation primarily associated with the rationalization of
international manufacturing facilities; $22.0 million of reorganization costs
primarily associated with the rationalization of international manufacturing
facilities; $29.0 million of Venezuela devaluation-related charges primarily
attributable to the devaluation of the Venezuelan Bolivar in February 2013;
$34.7 million of integration related costs primarily associated with the
rationalization of international manufacturing facilities; $17.1 million net
gain primarily associated with the gain on the sale of an investment; $38.8
million of a non-cash stock compensation adjustment associated with certain
restricted stock; $21.7 million of amortization of acquired intangible assets;
$16.1 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 year ended December 31, 2013 is the tax provision adjustment of $55.7
million, which reflects the normalization of the adjusted results to the
Company's 2013 estimated 33% effective tax rate.

For the year ended December 31, 2012, adjustments to net income included $6.0
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 our acquisitions; $8.8 million of accelerated depreciation
recorded in cost of sales primarily associated with the rationalization of
international manufacturing facilities; $33.6 million of non-cash cumulative
adjustment of stock compensation associated with certain restricted stock,
related to achieving a goal of split-adjusted $3.33 adjusted EPS by 2013;
$27.1 million of net reorganization costs primarily associated with the
rationalization of international manufacturing facilities; $17.5 million of
acquisition related and other costs; $17.8 million of amortization of acquired
intangible assets; and $3.3 million of non-cash original issue discount
amortization on the convertible notes. Also, included in the adjustments to
net income for the year ended December 31, 2012 is the tax provision
adjustment of $29.3 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
quarter and year ended December 31, 2013:

                                    Quarter ended      Year ended

                                    December 31, 2013  December 31, 2013
Reconciliation of Non- GAAP measure
Net sales growth                    $ 396.4  21.8%    $ 659.8   9.9%
Foreign exchange impacts            38.6      2.1%     112.6      1.7%
(Acquisitions)/exited business, net (361.8)   (19.9%)  (479.5)    (7.2%)
Organic net sales growth            $ 73.2   4.0%     $ 292.9   4.4%

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, the elimination of manufacturer's
profit in inventory, non-cash Venezuela hyperinflationary and
devaluation-related charges, gains and losses as a result of currency
fluctuations, gain (loss) on the sale of certain assets, 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 SG&A margin is calculated by dividing
adjusted SG&A 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: Jarden Corporation, Rachel Wilson, 914-967-9400; Investor Relations:
Allison Malkin, ICR, Inc., 203-682-8225; Press: Liz Cohen, Weber Shandwick,
212-445-8044
 
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