Jarden 2nd-qtr profit could beat Wall Street

By Aarthi Sivaraman

NEW YORK (Reuters) - Jarden Corp. (JAH.N: Quote, Profile, Research, Stock Buzz) will meet and probably beat earnings estimates for the second quarter, Chief Executive Martin Franklin said on Tuesday, sending the company's stock to a record high.

Speaking at the Reuters Consumer and Retail Summit in New York, Franklin said second-quarter sales were in line with analysts' expectations of $1.07 billion in revenue.

Wall Street expects second-quarter earnings of 58 cents per share, on average, according to Reuters Estimates.

Franklin still expects fiscal 2007 earnings to touch $2.98 per share, including the K2 Inc. KTO.N acquisition. He added the company still aims for annual earnings of over $5 per share in the next three to four years.

Jarden shares closed up 0.7 percent, or 32 cents, at $44.89 on the New York Stock Exchange, after rising to an all-time high of $45.09 earlier, following Franklin's comments.

In April, the company announced it was buying K2 Inc., which is best known for winter sports gear like K2 skis and sporting goods such as Rawlings baseballs and bats. Shortly before that, it added fishing tackle company Pure Fishing Inc. to its outdoor portfolio.

The company, which sells products ranging from playing cards and plastic cutlery to camping gear and coffee makers, has grown through such acquisitions.

Jarden is known for such brands as Mr. Coffee, Sunbeam, Crock-Pot and Coleman.  Continued...