Newell Rubbermaid, which has a food container manufacturing facility in Mogadore, on Friday reported it earned $79.3 million, or 27 cents a share on revenue of $1.33 billion for the first quarter.
Net income was up from $75.7 million, or 25 cents a share, a year ago while net sales rose 4.6 percent from the first quarter of 2011. Sales were up 5.2 percent excluding the impact of foreign currency, the company said.
“We’re encouraged by the solid start to the year,” Michael Polk, president and chief executive officer, said in a statement.
Company brands include Rubbermaid, Sharpie, Graco, Calphalon, Lenox, Levolor, Paper Mate and others.
Polk said results were “driven by strong performance” in what the company calls its Professional and Baby units and “double digit growth in Latin America and Asia.”
Net sales were $511 million in the Professional segment, a gain of 9.2 percent over the previous year.
Net sales in the Baby & Parenting Essentials unit were $182 million, up 21.2 percent.
Newell Rubbermaid said it continues to expect earning $1.34 to $1.40 a share in 2012; the figures include restructuring costs estimated at 27 to 32 cents per share.