UPDATE: Spectrum Brands Posts FQ1 Loss
Spectrum Brands Holdings (NYSE: SPB) posted a loss in the fiscal first quarter.
Spectrum posted a quarterly loss of $13.4 million, or $0.26 per share, versus a year-ago profit of $13.1 million, or $0.25 per share. Excluding one-time items, it earned $0.72 per share.
Its sales rose 2.5% to $870.3 million. However, analysts were projecting a profit of $0.57 per share on revenue of $895 million.
Its gross margin declined to 33.1% from 33.5%
Spectrum shares dropped 5.56% to $52.50 in after-hours trading.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.