UPDATE: Newell Rubbermaid Posts Upbeat Q4 Earnings, Lowers Forecast

reported better-than-expected fourth-quarter earnings. However, the company cut its full-year earnings forecast. Newell Rubbermaid now projects FY15 profit of $2.10 to $2.18 per share, versus its earlier outlook of $2.16 to $2.22 per share. The Atlanta, Georgia-based company posted a quarterly profit of $52 million, or $0.19 per share, versus a year-ago profit of $117 million, or $0.41 per share. Excluding special items, the company's earnings gained to $0.49 per share from $0.46 per share. Its sales climbed to $1.53 billion from $1.47 billion. However, analysts were expecting earnings of $0.48 per share on revenue of $1.52 billion. The company's sales at writing segment came in flat at $418 million, while sales at the baby-and-parenting segment slipped 0.2% to $209 million. Newell Rubbermaid's home solutions sales surged 11% to $459 million, while sales at its tool segment gained 3% to $227 million. Commercial-products segment's sales surged 5% to $213 million in the period. Operating cash flow slipped to $290.8 million from $304.2 million. "We are pleased to have finished the year with a strong set of fourth quarter results. Core sales grew 3.3 percent, or nearly 4 percent when adjusted for timing shifts related to SAP implementation and our third quarter distribution center transition," said Michael Polk, President and Chief Executive Officer. Newell Rubbermaid shares rose 0.82% to $38.28 in pre-market trading.