SlideShare ist ein Scribd-Unternehmen logo
1 von 13
Downloaden Sie, um offline zu lesen
World Headquarters
   14901 S. Orange Blossom Trail
   Orlando, FL 32837

   Mailing Address:
   Post Office Box 2353
   Orlando, FL 32802-2353

Contact: Teresa Burchfield         407-826-4560

 Tupperware Brands Reports First Quarter 2009 Results; Sales Trend Strengthened Through the
                            Quarter; Raises Earnings Guidance

    •   First Quarter GAAP diluted E.P.S. 41 cents; excluding certain items impacting
        comparability*, diluted E.P.S. 45 cents, versus February guidance range of 34 to 39 cents

    •   First Quarter Sales up 1% in local currency, on improving trend through the quarter, and
        down 15% with negative foreign exchange impact



Orlando, Fla., April 21, 2009 – (NYSE: TUP) Tupperware Brands Corporation today reported first
quarter 2009 sales and profit. First quarter 2009 sales increased in local currency by 1% versus 2008,
before a negative impact from foreign exchange rates of 16%. This resulted in a GAAP sales decrease of
15% compared with 2008.

Chairman and CEO, Rick Goings commented, “With this current economic backdrop we were pleased to
deliver local currency top line growth in a significant portion of our portfolio and 1% overall. We continued
to achieve double digit local currency sales growth in the 49% of our business that came from emerging
markets, with sales up 10% in local currency (down 13% reported). There were strong double digit
increases in our Tupperware Russia, Indonesia, Brazil and Venezuela businesses. Our established
markets as a group were down 7% in local currency (down 16% reported). What we really saw in the first
quarter, especially in our established markets, was a shift in consumer sentiment between January and
February from being almost frozen to slowly beginning to spend again. The pickup in February and
March overcame the January decrease by a small margin.”

Diluted GAAP earnings per share of 41 cents for the first quarter of 2009 included negative 4 cents from
items impacting comparability. Adjusted diluted earnings per share of 45 cents was up 7 cents versus the
prior year, excluding a negative 18 cent impact on the comparison from foreign exchange, and 6 cents
better than the high end of the guidance given in February. The increase versus last year came primarily
from the Tupperware Asia Pacific and Beauty Other segments due to scale benefits, value chain
improvements in Venezuela and the benefit of combining the Tupperware and beauty businesses in
Brazil that occurred in late 2008.

“Even with sales only up 1% in local currency, we were able to exceed our earnings per share guidance
through managing our expenses and investments in a way that continued to support our business.

* See Non-GAAP Financial Measures Reconciliation Schedule.
                                                                                            (more)
The savings came from procurement and containing expenses in the back end of the business as our
management teams around the world work together to achieve our profitability and cash flow goals while
at the same time focusing on driving sales growth” said Rick Goings.

Tupperware Brands will conduct a conference call tomorrow, Wednesday April 22, 2009 at 9:00 am
Eastern time. The conference call will be webcast and archived along with a copy of this news release on
www.tupperwarebrands.com.

First Quarter Segment Highlights*

Tupperware Segments

In Europe, first quarter sales were even with prior year in local currency (down 18% reported).
Established markets were down 7% in local currency (down 20% reported) including a double digit
decrease in the German market and a low single digit decrease in France. These were partially offset by
increases in Greece, Austria and Spain. The emerging markets were up 18% in local currency (down
13% reported). Double digit growth continued in Russia, Turkey and the South African businesses. Profit
was in line with sales, even with prior year in local currency (down 19% reported). Total sales force in the
segment was up 13% at the end of the first quarter and the first quarter average active sales force was up
9%.

Asia Pacific sales were up 13% in local currency (up 2% reported) in the quarter with emerging markets
up 31% in local currency (up 16% reported). The growth was led by Indonesia, Malaysia and Singapore,
India and Korea, which were up very strongly versus the prior year, partially offset by a decrease in China.
The established markets were down 4% in local currency (down 11% reported) coming from both
Japanese businesses partially offset by an increase in Tupperware Australia and New Zealand. Profit
was up 22% in local currency (up 1% reported) led by double digit increases in Indonesia, Malaysia and
Singapore and Korea. Total sales force was up 15% at the end of the first quarter and the active sales
force was up 27%.

Tupperware North America sales were down 2% in local currency (down 13% reported) versus prior
year and included a high single digit increase in Mexico offset by a high single digit decrease in the
United States and Canada. The U.S. business was affected by the negative impact of the external
environment especially early in the quarter, but experienced improvements in both sales force size and
activity as the quarter progressed. Profit for the segment was down $0.6 million, or 22% in local currency
(down 33% reported). The total sales force size at the end of March was up 10%, and the active sales
force for the quarter was up 5%.

Beauty Segments

Beauty North America sales were down 7% in local currency (down 24% reported) reflecting high single
digit decreases by BeautiControl and Fuller Mexico. BeautiControl is focused on reinvigorating the
business by recruiting sales force members under the earnings opportunity versus a discounted entry kit
and re-emphasizing party sales. Fuller Mexico ended the quarter with over 500,000 sellers, 2% more
than the prior year, but had lower productivity in the quarter. The segment’s profit in the quarter
decreased about in line with the sales decrease. Total sales force for the segment was even with the
prior year, and the active sales force for the entire segment was down 3%.


*Amounts discussed in Segment Highlights are on a GAAP basis and include purchase accounting
amortization. See Non-GAAP Financial Measures Reconciliation Schedule for information excluding this
item.
                                                                                     (more)
Beauty Other sales were up 7% in local currency (down 10% reported) with most of the local currency
increase coming from Venezuela, Tupperware Brazil and Argentina. Profit of $2.8 million, improved $7.6
million over the prior year on a local currency basis, primarily from the contribution margin associated with
the higher local currency sales, along with value chain improvements in Venezuela and Brazil. During the
quarter, the Company began selling beauty products in Brazil through its Tupperware sales force rather
than through the separate beauty business it had been operating. The total sales force advantage for the
segment was 5%, and active sellers were down 7% from the prior year.


Second Quarter 2009 Outlook

The second quarter sales outlook is for an increase of 2 to 4% in local currency. Factoring in a negative
impact from currency of 16%, sales in dollars are expected to decrease by 12 to 14%. GAAP diluted
earnings per share is expected to be 62 to 67 cents, with a net positive 5 cents from items impacting
comparability. Excluding these items, diluted earnings per share is forecast to be 57 to 62 cents. This
compares with GAAP diluted earnings per share of 56 cents last year and 75 cents excluding certain
items.* The guidance reflects a negative impact on the comparison of 22 cents from weaker foreign
currencies, indicating a double digit percentage local currency increase at the high end of the range.

Full Year 2009 Outlook

Full year 2009 sales are expected to increase in local currency versus 2008 by 2 to 5%. Based on
current foreign exchange rates there is a 13 percentage point negative impact on the comparison,
resulting in a GAAP sales decrease of 8 to 11%. The local currency sales increase includes a high single
digit increase from businesses in the emerging markets and sales about even to down slightly versus last
year in the established market businesses. Earnings per share on both a GAAP basis and excluding
items impacting comparability is expected to be $2.16 to $2.26.** This includes a negative 59 cent impact
versus 2008 from foreign currency rates. Excluding the impact of foreign exchange on the comparison,
this represents an increase over the prior year of 3 to 8% and compares with the February 2009 guidance
range of $1.98 to $2.08, which represented a 1 to 6% increase in local currency. This outlook includes
foreign exchange rates as of April 21, 2009, for the second, third and fourth quarters of 2009.

Rick Goings Chairman and CEO, commented, “As we go into the second quarter and the rest of 2009 we
have levers within our control to continue to help drive both our top line sales and our bottom line. With a
sales force size advantage of 7%, which was even with the end of 2008, we continue to work on the
productivity of our sales force. We are focused on training and promotional incentives that will help not
only bring in new recruits, but help them to become active and successful as quickly as possible. This will
help drive our full year 2 - 5% top line sales growth. At the same time our management teams are
focused on efficient procurement, controlling expenses and otherwise improving our value chains to help
ensure we also continue to grow our profit and convert our profit to cash.”

“Our management teams around the world are smart, empowered and focused on growing their
businesses even in these challenging economic times. As we saw in our first quarter results while some
businesses were down others were up, once again showing the benefit of being a global portfolio of direct
selling companies.”

*2008 Basic and Diluted earnings per share has been recast to conform with FASB Staff Position EITF 03-
6-1, Determining Whether Instruments Granted in Share-Based Payment Transactions are Participating
Securities. This guidance was adopted in the first quarter of 2009 and reduced 2008 full year diluted
earnings per share by $0.01 versus the originally reported amount. There was no impact from this
change on 2008 first quarter basic and diluted earnings per share.

**See Non-GAAP Financial Measures Outlook Reconciliation Schedule.
                                                                                            (more)
Tupperware Brands Corporation is a portfolio of global direct selling companies, selling premium
innovative products across multiple brands and categories through an independent sales force of 2.3
million. Product brands and categories include design-centric preparation, storage and serving solutions
for the kitchen and home through the Tupperware brand and beauty and personal care products for
consumers through the Armand Dupree, Avroy Shlain, BeautiControl, Fuller Cosmetics, NaturCare,
Nutrimetics, Nuvo and Swissgarde brands.

The Company’s stock is listed on the New York Stock Exchange (NYSE: TUP). Statements contained in
this release, which are not historical fact and use predictive words such as quot;outlookquot;, “expects” or quot;targetquot;
are forward-looking statements. These statements involve risks and uncertainties which include recruiting
and activity of the Company's independent sales forces, the success of new product introductions and
promotional programs, the ability to obtain all government approvals on land sales, the success of buyers
in obtaining financing or attracting tenants for commercial and residential developments, the effects of
economic and political conditions generally and foreign exchange risk in particular and other risks detailed
in the Company's most recent periodic report as filed in accordance with the Securities Exchange Act of
1934. The Company does not intend to update forward-looking information other than through its
quarterly earnings releases unless it expects diluted earnings per share for the current quarter, excluding
adjustment items, to be significantly below its previous guidance.

Non-GAAP Financial Measures

The Company has utilized non-GAAP financial measures in this release, which are provided to assist
readers’ understanding of the Company's results of operations. The adjustment items materially impact
the comparability of the Company’s results of operations. The adjusted information is intended to be more
indicative of Tupperware Brands’ primary operations, and to assist readers in evaluating performance and
analyzing trends across periods.

The non-GAAP financial measures exclude gains from the sale of property, plant and equipment and
insurance settlements; re-engineering costs; purchase accounting intangible asset amortization; and
purchase accounting intangible asset and goodwill impairment costs. While the Company is engaged in a
multi-year program to sell land adjacent to its Orlando, Florida headquarters, and also disposes of other
excess land and facilities periodically, these activities are not part of the Company’s primary business
operation. Additionally, gains recognized in any given period are not indicative of gains which may be
recognized in any particular future period. For this reason, these gains are excluded as
indicated. Further, the Company excludes significant charges related to casualty losses caused by
significant weather events, fires or similar circumstances. It also excludes any related gains resulting from
the settlement of associated insurance claims. While these types of events can and do recur periodically,
they are excluded from indicated financial information due to their distinction from ongoing business
operations, inherent volatility and impact on the comparability of earnings across quarters. Also, the
Company periodically records exit costs as defined under Statement of Financial Accounting Standards
No. 146, “Accounting for Costs Associated with Exit or Disposal Activities” and other amounts related to
rationalizing manufacturing and other restructuring activities, and believes these amounts are similarly
volatile and impact the comparability of earnings across quarters. Therefore, they are also excluded from
indicated financial information to provide what the Company believes represents a more useful measure
for analysis and predictive purposes.

The Company has also elected to present financial measures excluding the impact of amortizing the
purchase accounting carrying value of certain definite-lived intangible assets, primarily the value of
independent sales forces, recorded in connection with the Company’s December 2005 acquisition of the
direct selling businesses of Sara Lee Corporation. The amortization expense related to these assets will
continue for several years; however, based on the Company’s current estimates, this amortization will
decline as the years progress. Similarly in connection with its evaluation of the carrying value of acquired
                                                                                             (more)
intangible assets and goodwill in the second quarter of 2008, the Company recognized impairment
charges. The Company believes that these types of non-cash charges will not be representative in any
single year of amounts recorded in prior years or expected to be recorded in future years. Therefore,
they are excluded from indicated financial information to also provide a more useful measure for analysis
and predictive purposes.

Included on the Company’s website at http://ir.tupperwarebrands.com/history.cfm is information detailing
the calculation of the Company’s financial covenants for the most recent period, under its Credit
Agreement dated September 28, 2007.

                                                   ###
TUPPERWARE BRANDS CORPORATION
                                 CONSOLIDATED STATEMENTS OF INCOME

                                             (UNAUDITED)

                                                           13 Weeks Ended    13 Weeks Ended
                                                               March 28,         March 29,
(In millions, except per share data)                             2009              2008

Net sales                                                  $         462.8   $         543.4
Cost of products sold                                                160.1             194.8
Gross margin                                                         302.7             348.6

Delivery, sales and administrative expense                           258.8             297.8
Re-engineering and impairment charges                                  2.7               2.2
Operating income                                                      41.2              48.6

Interest income                                                        0.7               1.1
Interest expense                                                       8.1               8.7
Other expense                                                          1.5               1.4
Income before income taxes                                            32.3              39.6
Provision for income taxes                                             6.7               7.5
Net income                                                 $          25.6   $          32.1

Net income per common share:

Basic earnings per share:                                  $          0.41   $          0.52

Diluted earnings per share:                                $          0.41   $          0.51
TUPPERWARE BRANDS CORPORATION
                                          CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                                              (UNAUDITED)




(Amounts in millions, except per share)

                                                  13 Weeks             13 Weeks
                                                    Ended               Ended        Reported     Restated     Foreign
                                                  March 28,            March 29,         %            %       Exchange
                                                    2009                 2008        Inc (Dec)    Inc (Dec)    Impact

Net Sales:
         Europe                                   $    181.1          $     220.2          (18)         -   $     (38.7)
         Asia Pacific                                   71.9                 70.2            2          13         (6.6)
         TW North America                               60.3                 69.5          (13)         (2)        (8.0)
         Beauty North America                           87.4                114.7          (24)         (7)       (20.4)
         Beauty Other                                   62.1                 68.8          (10)           7       (10.6)

                                                  $    462.8          $     543.4          (15)           1   $   (84.3)


Segment profit (loss):
        Europe                                    $     30.8          $      38.1          (19)          -   $     (7.1)
        Asia Pacific                                    10.0                  9.9            1           22        (1.8)
        TW North America                                 2.0                  3.0          (33)         (22)       (0.4)
        Beauty North America                             9.6                 14.4          (33)          (6)       (4.2)
        Beauty Other                                     2.8                 (5.6)           -             -        0.8

                                                        55.2                 59.8           (8)         17    $   (12.7)

Unallocated expenses                                   (12.9)               (10.4)         24
Re-engineering and impairment charges                   (2.7)                (2.2)         25
Interest expense, net                                   (7.3)                (7.6)         (4)

Income before taxes                                     32.3                 39.6          (19)
Provision for income taxes                               6.7                  7.5          (10)
Net income                                        $     25.6          $      32.1          (20)

Net income per common share (diluted)                  $0.41          $      0.51          (20)


Weighted Average number of diluted shares               62.5                 63.4
TUPPERWARE BRANDS CORPORATION
                                                                               RECONCILIATION
(In millions except per share data)
                                                                                         13 Weeks Ended March 28, 2009                                 13 Weeks Ended March 29, 2008
                                                                                        Reported     Adj's    Excl Adj's                              Reported    Adj's      Excl Adj's
Segment profit (loss)
Europe                                                                                  $     30.8         $    0.1    a$         30.9               $      38.1         $ 0.1      a        $   38.2
Asia Pacific                                                                                  10.0              0.3    a          10.3                       9.9           0.4      a            10.3
TW North America                                                                               2.0                                 2.0                       3.0                                  3.0
Beauty North America                                                                           9.6              0.4    a          10.0                      14.4             0.9    a            15.3
Beauty Other                                                                                   2.8              0.4    a           3.2                      (5.6)            0.9    a            (4.7)
                                                                                              55.2              1.2               56.4                      59.8             2.3                 62.1

Unallocated expenses                                                                         (12.9)                              (12.9)                    (10.4)                                (10.4)
Re-eng and impairment chgs                                                                    (2.7)             2.7    b           -                        (2.2)            2.2    b              -
Interest expense, net                                                                         (7.3)                               (7.3)                     (7.6)                                 (7.6)
Income before taxes                                                                           32.3              3.9               36.2                      39.6           4.5                    44.1
Provision for income taxes                                                                     6.7              1.3    c           8.0                       7.5           1.2      c              8.7
Net income                                                                              $     25.6         $    2.6        $      28.2               $      32.1         $ 3.3               $    35.4

Net income per common share (diluted)                                                   $     0.41         $ 0.04          $      0.45               $      0.51         $ 0.05              $   0.56



(a) Amortization of intangibles of acquired beauty units.

(b) Includes in 2009, $0.2 million related to relocation of BeautiControl manufacturing facility and $2.5 million related to severance costs incurred to reduce headcount in the Company's
BeautiControl, Australia, Mexico, and Argentina operations. In 2008, $0.3 million related to the relocation of the Company's Belgium and BeautiControl manufacturing facilities, $0.5
million to impairment charges for obsolete software in the South Africa Beauty Business, and $1.4 million to severance costs incurred to reduce headcount in the Company's Belgium,
Italy, Mexico, Malaysia, Netherlands and Philippines operations.

(c) Provision for income taxes represents the net tax impact of adjusted amounts.

See information regarding non-GAAP financial measures in the attached press release.
TUPPERWARE BRANDS CORPORATION
           NON-GAAP FINANCIAL MEASURES OUTLOOK RECONCILIATION SCHEDULE
                                   April 21, 2009

($ in millions, except per share amounts)

                                                                                  Full Year                       Full Year
                                                                                 2008 Actual                    2009 Outlook
                                                                                                                      Range


                                                                                                               Low                High

Income before income taxes                                                          $    201.9           $        174.5       $    182.5

         % change from prior year                                                                                    -14%           -10%

      Income tax                                                                    $      40.5          $           38.5     $     40.4
         Effective Rate                                                                    20%                       22%            22%

      Net Income (GAAP)                                                             $    161.4           $        136.0       $    142.1

         % change from prior year                                                                                    -16%           -12%

      Adjustments(1):
        Gains on disposal of assets including insurance recoveries                  $    (24.9)          $         (8.8)      $     (8.8)
        Re-engineering and other restructuring costs                                      11.9                      3.7              3.7
        Acquired intangible asset amortization                                             9.0                      4.8              4.8
        Purchase accounting intangible impairment                                          9.0                      -                -
        Income tax (2)                                                                     3.3                      0.3              0.3
      Net Income (Adjusted)                                                         $    169.7           $        136.0       $    142.1

         % change from prior year                                                                                    -20%           -16%

       Exchange rate impact (3)                                                          (37.7)                     -                -
      Net Income (Adjusted and 2008 Restated for currency changes)                  $    132.0           $        136.0       $    142.1

         % change from prior year                                                                                     3%                 8%

Net income (GAAP) per common share (diluted)                                        $      2.55          $           2.16     $     2.26

Net Income (Adjusted) per common share (diluted)                                    $      2.68          $           2.16     $     2.26


Average number of diluted shares (millions)                                                63.4 *                    63.0            63.0

(1)
      Refer to Non-GAAP Financial Measures section of attached release for description of the general nature of adjustment items
(2)
      Represents income tax impact of adjustments
(3)
      2008 restated at current currency exchange rates




*  Basic and Diluted earnings per share has been recast to conform with FASB Staff Position EITF 03‐6‐1, Determining Whether 
Instruments Granted in Share‐Based Payment Transactions are Participating Securities .  This guidance was adopted as of the beginning of 
2009 and reduced full year diluted earnings per share by $0.01 versus the originally reported amount.
TUPPERWARE BRANDS CORPORATION
           NON-GAAP FINANCIAL MEASURES OUTLOOK RECONCILIATION SCHEDULE
                                   April 21, 2009

($ in millions, except per share amounts)

                                                                                Second Quarter                 Second Quarter
                                                                                  2008 Actual                   2009 Outlook
                                                                                                                      Range


                                                                                                               Low                High

Income before income taxes                                                          $      46.2          $           50.2     $     54.6

         % change from prior year                                                                                     9%             18%

      Income tax                                                                    $      10.2          $           11.5     $     12.7
         Effective Rate                                                                     22%                       23%            23%

      Net Income (GAAP)                                                             $      35.9          $           38.7     $     41.9

         % change from prior year                                                                                     8%             17%

      Adjustments(1):
        Gains on disposal of assets including insurance recoveries                         (0.6)                     (7.3)          (7.3)
        Re-engineering and other restructuring costs                                        3.5                       0.8            0.8
        Acquired intangible asset amortization                                              2.4                       1.2            1.2
        Purchase accounting intangible impairment                                           9.0                       -              -
        Income tax (2)                                                                     (2.4)                      1.9            1.9
      Net Income (Adjusted)                                                         $      47.8          $           35.3     $     38.5

         % change from prior year                                                                                    -26%           -19%

                                (3)
       Exchange rate impact                                                               (14.1)                      -              -
      Net Income (Adjusted and 2008 Restated for currency changes)                  $      33.7          $           35.3     $     38.5

         % change from prior year                                                                                     5%             14%

Net income (GAAP) per common share (diluted)                                        $      0.56          $           0.62     $     0.67

Net Income (Adjusted) per common share (diluted)                                    $      0.75          $           0.57     $     0.62


Average number of diluted shares (millions)                                                63.9 *                    62.4            62.4

(1)
      Refer to Non-GAAP Financial Measures section of attached release for description of the general nature of adjustment items
(2)
      Represents income tax impact of adjustments
(3)
      2008 restated at current currency exchange rates



*  Earnings per share has been recast to conform with FASB Staff Position EITF 03‐6‐1, Determining Whether Instruments Granted in 
Share‐Based Payment Transactions are Participating Securities .  This guidance was adopted as of the beginning of 2009 and has increased 
the number of shares; however, due to the small amount of the change, there was no impact on 2008 second quarter diluted earnings 
per share. 
TUPPERWARE BRANDS CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (UNAUDITED)


                                                              Mar. 28        Dec. 27,
(In millions)                                                  2009           2008

Assets

Cash and cash equivalents                                 $       91.4   $       124.8
Other current assets                                             569.5           579.0
 Total current assets                                            660.9           703.8

Property, plant and equipment, net                               236.9           245.4

Other assets                                                     831.7           866.4

  Total assets                                            $    1,729.5   $     1,815.6

Liabilities and Shareholders' Equity

Short-term borrowings and current
 portion of long-term debt                                $       16.8   $         3.8
Accounts payable and other current liabilities                   375.1           447.7

  Total current liabilities                                      391.9           451.5

Long-term debt                                                   564.8           567.4

Other liabilities                                                315.3           322.7

  Total shareholders' equity                                     457.5           474.0

  Total liabilities and shareholders' equity              $    1,729.5   $     1,815.6


Total Debt to Capital Ratio 56% at March 2009 and 55% at December 2008
Capital is defined as total debt plus shareholders' equity
TUPPERWARE BRANDS CORPORATION
                  CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

                                                 (UNAUDITED)

                                                               13 weeks ended    13 weeks ended
                                                                  March 28,         March 29,
(In millions)                                                       2009              2008

OPERATING ACTIVITIES
    Net cash used in operating activities                      $        (22.1)   $        (48.0)

INVESTING ACTIVITIES
  Capital expenditures                                                  (11.0)            (11.0)
  Proceeds from disposal of property, plant & equipment                   1.7               1.2
  Proceeds from insurance recoveries                                      -                 6.4
     Net cash used in investing activities                               (9.3)             (3.4)

FINANCING ACTIVITIES
   Dividend payments to shareholders                                    (13.6)            (13.5)
   Repurchase of common stock                                             -                (7.3)
   Net proceeds from issuance of term debt                                -                 -
   Repayment of long-term debt and capital lease obligations             (0.4)             (1.1)
   Net change in short-term debt                                         11.6              46.5
   Other, net                                                             0.9               7.2

     Net cash (used in) provided by financing activities                 (1.5)             31.8

Effect of exchange rate changes on cash and
   cash equivalents                                                      (0.5)              3.4

Net change in cash and cash equivalents                                 (33.4)            (16.2)

Cash and cash equivalents at beginning of year                          124.8             102.7

Cash and cash equivalents at end of period                     $         91.4    $         86.5
TUPPERWARE BRANDS CORPORATION
                          SUPPLEMENTAL INFORMATION
                         First Quarter Ended March 28, 2009

Sales Force Statistics (a):
Segment                             AVG. ACTIVE      % CHG.           TOTAL       % CHG.
Europe                                     115,279         9            512,426       13
Asia Pacific                                48,912        27            365,635       15
TW North America                            77,216         5            242,466       10
 Tupperware                                241,407        11          1,120,527       13
Beauty North America                       333,711        (3)           632,279        -
Beauty Other                               222,821        (7)           554,913        5
 Beauty                                    556,532        (5)         1,187,192        2
 Total                                     797,939         -          2,307,719        7

(a) As collected by the Company and provided by distributors and sales force.

Weitere ähnliche Inhalte

Was ist angesagt?

P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook
P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook
P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook finance3
 
Walmart Q4 FY20 Earnings
Walmart Q4 FY20 EarningsWalmart Q4 FY20 Earnings
Walmart Q4 FY20 EarningsWalmart
 
Walmart Q3 FY21 Earnings
Walmart Q3 FY21 EarningsWalmart Q3 FY21 Earnings
Walmart Q3 FY21 EarningsWalmart
 
P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales Growth
P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales GrowthP&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales Growth
P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales Growthfinance3
 
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook finance3
 
Walmart Q2 FY21 Earnings
Walmart Q2 FY21 EarningsWalmart Q2 FY21 Earnings
Walmart Q2 FY21 EarningsWalmart
 
Procter & Gamble Earnings Per Share Increase 16 Percent For Quarter
Procter & Gamble Earnings Per Share Increase 16 Percent For QuarterProcter & Gamble Earnings Per Share Increase 16 Percent For Quarter
Procter & Gamble Earnings Per Share Increase 16 Percent For Quarterfinance3
 
3m Transcript 2006 1st
3m Transcript 2006 1st3m Transcript 2006 1st
3m Transcript 2006 1stfinance10
 
9 mnth sales investor call transcript
9 mnth sales investor call transcript9 mnth sales investor call transcript
9 mnth sales investor call transcriptNestlé SA
 
P&G Delivers 15% Earnings Per Share Growth for Fiscal Year
P&G Delivers 15% Earnings Per Share Growth for Fiscal YearP&G Delivers 15% Earnings Per Share Growth for Fiscal Year
P&G Delivers 15% Earnings Per Share Growth for Fiscal Yearfinance3
 
P&G Beats First Quarter Earnings Expectations on Record Volume and Sales
P&G Beats First Quarter Earnings Expectations on Record Volume and SalesP&G Beats First Quarter Earnings Expectations on Record Volume and Sales
P&G Beats First Quarter Earnings Expectations on Record Volume and Salesfinance3
 
Walmart Q3 FY20 Earnings
Walmart Q3 FY20 EarningsWalmart Q3 FY20 Earnings
Walmart Q3 FY20 EarningsWalmart
 
P&G Delivers Double-Digit Sales Growth in First Quarter
P&G Delivers Double-Digit Sales Growth in First QuarterP&G Delivers Double-Digit Sales Growth in First Quarter
P&G Delivers Double-Digit Sales Growth in First Quarterfinance3
 
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...finance3
 
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlook
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year OutlookP&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlook
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlookfinance3
 
Electrolux Interim Report Q2 2018 - Report
Electrolux Interim Report Q2 2018 - ReportElectrolux Interim Report Q2 2018 - Report
Electrolux Interim Report Q2 2018 - ReportElectrolux Group
 
P&G Delivers Strong Sales and EPS Results Despite Hurricane Impacts
P&G Delivers Strong Sales and EPS Results Despite Hurricane ImpactsP&G Delivers Strong Sales and EPS Results Despite Hurricane Impacts
P&G Delivers Strong Sales and EPS Results Despite Hurricane Impactsfinance3
 

Was ist angesagt? (20)

P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook
P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook
P&G Delivers 17% EPS Growth - Raises Fiscal Year Outlook
 
Walmart Q4 FY20 Earnings
Walmart Q4 FY20 EarningsWalmart Q4 FY20 Earnings
Walmart Q4 FY20 Earnings
 
Walmart Q3 FY21 Earnings
Walmart Q3 FY21 EarningsWalmart Q3 FY21 Earnings
Walmart Q3 FY21 Earnings
 
P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales Growth
P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales GrowthP&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales Growth
P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sales Growth
 
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook
 
Walmart Q2 FY21 Earnings
Walmart Q2 FY21 EarningsWalmart Q2 FY21 Earnings
Walmart Q2 FY21 Earnings
 
Q1 2009 Earning Report of Tempur Pedic
Q1 2009 Earning Report of Tempur PedicQ1 2009 Earning Report of Tempur Pedic
Q1 2009 Earning Report of Tempur Pedic
 
Procter & Gamble Earnings Per Share Increase 16 Percent For Quarter
Procter & Gamble Earnings Per Share Increase 16 Percent For QuarterProcter & Gamble Earnings Per Share Increase 16 Percent For Quarter
Procter & Gamble Earnings Per Share Increase 16 Percent For Quarter
 
3m Transcript 2006 1st
3m Transcript 2006 1st3m Transcript 2006 1st
3m Transcript 2006 1st
 
9 mnth sales investor call transcript
9 mnth sales investor call transcript9 mnth sales investor call transcript
9 mnth sales investor call transcript
 
P&G Delivers 15% Earnings Per Share Growth for Fiscal Year
P&G Delivers 15% Earnings Per Share Growth for Fiscal YearP&G Delivers 15% Earnings Per Share Growth for Fiscal Year
P&G Delivers 15% Earnings Per Share Growth for Fiscal Year
 
P&G Beats First Quarter Earnings Expectations on Record Volume and Sales
P&G Beats First Quarter Earnings Expectations on Record Volume and SalesP&G Beats First Quarter Earnings Expectations on Record Volume and Sales
P&G Beats First Quarter Earnings Expectations on Record Volume and Sales
 
Walmart Q3 FY20 Earnings
Walmart Q3 FY20 EarningsWalmart Q3 FY20 Earnings
Walmart Q3 FY20 Earnings
 
P&G Delivers Double-Digit Sales Growth in First Quarter
P&G Delivers Double-Digit Sales Growth in First QuarterP&G Delivers Double-Digit Sales Growth in First Quarter
P&G Delivers Double-Digit Sales Growth in First Quarter
 
yum analyst
yum analystyum analyst
yum analyst
 
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...
 
Q1 2009 Earning Report of Sherwin Williams
Q1 2009 Earning Report of Sherwin  WilliamsQ1 2009 Earning Report of Sherwin  Williams
Q1 2009 Earning Report of Sherwin Williams
 
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlook
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year OutlookP&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlook
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlook
 
Electrolux Interim Report Q2 2018 - Report
Electrolux Interim Report Q2 2018 - ReportElectrolux Interim Report Q2 2018 - Report
Electrolux Interim Report Q2 2018 - Report
 
P&G Delivers Strong Sales and EPS Results Despite Hurricane Impacts
P&G Delivers Strong Sales and EPS Results Despite Hurricane ImpactsP&G Delivers Strong Sales and EPS Results Despite Hurricane Impacts
P&G Delivers Strong Sales and EPS Results Despite Hurricane Impacts
 

Andere mochten auch

Andere mochten auch (7)

Q3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific CorporationQ3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific Corporation
 
Q3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific CorporationQ3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific Corporation
 
Q3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T CorporationQ3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T Corporation
 
Q3 2009 Earning Report of Brown & Brown
Q3 2009 Earning Report of Brown & BrownQ3 2009 Earning Report of Brown & Brown
Q3 2009 Earning Report of Brown & Brown
 
Q3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T CorporationQ3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T Corporation
 
Q3 Earning report of Daimler AG
Q3 Earning report of Daimler AGQ3 Earning report of Daimler AG
Q3 Earning report of Daimler AG
 
Q3 2009 Earning Report of Banco Santander S.A.
Q3 2009 Earning Report of Banco Santander S.A.Q3 2009 Earning Report of Banco Santander S.A.
Q3 2009 Earning Report of Banco Santander S.A.
 

Ähnlich wie Q1 2009 Earning Report of Tupperware Corp.

P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...
P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...
P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...finance3
 
4Q 06 Ttranscriptprerecordcoments
4Q 06 Ttranscriptprerecordcoments4Q 06 Ttranscriptprerecordcoments
4Q 06 Ttranscriptprerecordcomentsfinance22
 
Strong Volume and Operating Margin Improvements Drive Earnings Growth
Strong Volume and Operating Margin Improvements Drive Earnings GrowthStrong Volume and Operating Margin Improvements Drive Earnings Growth
Strong Volume and Operating Margin Improvements Drive Earnings Growthfinance3
 
Fy14 q4earningsreleasefinal wal mart
Fy14 q4earningsreleasefinal wal martFy14 q4earningsreleasefinal wal mart
Fy14 q4earningsreleasefinal wal martFrank Ragol
 
P&G Delivers 15% EPS Growth - Raises Fiscal Year Guidance
P&G Delivers 15% EPS Growth - Raises Fiscal Year GuidanceP&G Delivers 15% EPS Growth - Raises Fiscal Year Guidance
P&G Delivers 15% EPS Growth - Raises Fiscal Year Guidancefinance3
 
P&G Delivers Double-Digit Earnings Growth on Strong Top Line Results
P&G Delivers Double-Digit Earnings Growth on Strong Top Line ResultsP&G Delivers Double-Digit Earnings Growth on Strong Top Line Results
P&G Delivers Double-Digit Earnings Growth on Strong Top Line Resultsfinance3
 
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growth
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit GrowthP&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growth
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growthfinance3
 
I-Bytes Retail & Consumer Goods Industry
I-Bytes Retail & Consumer Goods IndustryI-Bytes Retail & Consumer Goods Industry
I-Bytes Retail & Consumer Goods IndustryEGBG Services
 
Gis 2012 gm annual final_hyperlinks
Gis 2012 gm annual final_hyperlinksGis 2012 gm annual final_hyperlinks
Gis 2012 gm annual final_hyperlinksIda Nair
 
P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations
P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations
P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations finance3
 
2Q10 Earnings Release
2Q10 Earnings Release2Q10 Earnings Release
2Q10 Earnings ReleaseGafisa RI !
 
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013Sergey Polovnikov
 
morgan stanley Earnings Archive2007 3rd
morgan stanley Earnings Archive2007 3rd morgan stanley Earnings Archive2007 3rd
morgan stanley Earnings Archive2007 3rd finance2
 
John DeereMedia Release & Financials 2007 3rd
 John DeereMedia Release & Financials 2007 3rd John DeereMedia Release & Financials 2007 3rd
John DeereMedia Release & Financials 2007 3rdfinance11
 
morgan stanley Earnings Archive 2008 1st
morgan stanley Earnings Archive 2008 1st morgan stanley Earnings Archive 2008 1st
morgan stanley Earnings Archive 2008 1st finance2
 
P&G Delivers Earnings Growth at High End of Guidance
P&G Delivers Earnings Growth at High End of GuidanceP&G Delivers Earnings Growth at High End of Guidance
P&G Delivers Earnings Growth at High End of Guidancefinance3
 

Ähnlich wie Q1 2009 Earning Report of Tupperware Corp. (20)

Q1 2009 Earning Report of Coca-Cola Co.
Q1 2009 Earning Report of Coca-Cola Co.Q1 2009 Earning Report of Coca-Cola Co.
Q1 2009 Earning Report of Coca-Cola Co.
 
Q1 2009 Earning Report of Coco-Cola Co.
Q1 2009 Earning Report of Coco-Cola Co.Q1 2009 Earning Report of Coco-Cola Co.
Q1 2009 Earning Report of Coco-Cola Co.
 
Q2 2015
Q2 2015Q2 2015
Q2 2015
 
P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...
P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...
P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...
 
4Q 06 Ttranscriptprerecordcoments
4Q 06 Ttranscriptprerecordcoments4Q 06 Ttranscriptprerecordcoments
4Q 06 Ttranscriptprerecordcoments
 
Strong Volume and Operating Margin Improvements Drive Earnings Growth
Strong Volume and Operating Margin Improvements Drive Earnings GrowthStrong Volume and Operating Margin Improvements Drive Earnings Growth
Strong Volume and Operating Margin Improvements Drive Earnings Growth
 
Fy14 q4earningsreleasefinal wal mart
Fy14 q4earningsreleasefinal wal martFy14 q4earningsreleasefinal wal mart
Fy14 q4earningsreleasefinal wal mart
 
annual report
annual reportannual report
annual report
 
P&G Delivers 15% EPS Growth - Raises Fiscal Year Guidance
P&G Delivers 15% EPS Growth - Raises Fiscal Year GuidanceP&G Delivers 15% EPS Growth - Raises Fiscal Year Guidance
P&G Delivers 15% EPS Growth - Raises Fiscal Year Guidance
 
P&G Delivers Double-Digit Earnings Growth on Strong Top Line Results
P&G Delivers Double-Digit Earnings Growth on Strong Top Line ResultsP&G Delivers Double-Digit Earnings Growth on Strong Top Line Results
P&G Delivers Double-Digit Earnings Growth on Strong Top Line Results
 
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growth
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit GrowthP&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growth
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growth
 
I-Bytes Retail & Consumer Goods Industry
I-Bytes Retail & Consumer Goods IndustryI-Bytes Retail & Consumer Goods Industry
I-Bytes Retail & Consumer Goods Industry
 
Gis 2012 gm annual final_hyperlinks
Gis 2012 gm annual final_hyperlinksGis 2012 gm annual final_hyperlinks
Gis 2012 gm annual final_hyperlinks
 
P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations
P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations
P&G Delivers Second Quarter EPS and Organic Sales in Line with Expectations
 
2Q10 Earnings Release
2Q10 Earnings Release2Q10 Earnings Release
2Q10 Earnings Release
 
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013
 
morgan stanley Earnings Archive2007 3rd
morgan stanley Earnings Archive2007 3rd morgan stanley Earnings Archive2007 3rd
morgan stanley Earnings Archive2007 3rd
 
John DeereMedia Release & Financials 2007 3rd
 John DeereMedia Release & Financials 2007 3rd John DeereMedia Release & Financials 2007 3rd
John DeereMedia Release & Financials 2007 3rd
 
morgan stanley Earnings Archive 2008 1st
morgan stanley Earnings Archive 2008 1st morgan stanley Earnings Archive 2008 1st
morgan stanley Earnings Archive 2008 1st
 
P&G Delivers Earnings Growth at High End of Guidance
P&G Delivers Earnings Growth at High End of GuidanceP&G Delivers Earnings Growth at High End of Guidance
P&G Delivers Earnings Growth at High End of Guidance
 

Mehr von earningreport earningreport

Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.earningreport earningreport
 
Q3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding CompanyQ3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding Companyearningreport earningreport
 
Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.earningreport earningreport
 
Q3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott InternationalQ3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott Internationalearningreport earningreport
 
Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.earningreport earningreport
 
Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.earningreport earningreport
 
Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.earningreport earningreport
 

Mehr von earningreport earningreport (20)

Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.
 
Q3 2009 Earning Report of Apple Inc.
Q3 2009 Earning Report of Apple Inc.Q3 2009 Earning Report of Apple Inc.
Q3 2009 Earning Report of Apple Inc.
 
Q3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding CompanyQ3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding Company
 
Q3 2009 Earning Report of Walgreen Co.
Q3 2009 Earning Report of Walgreen Co.Q3 2009 Earning Report of Walgreen Co.
Q3 2009 Earning Report of Walgreen Co.
 
Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.
 
Q3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott InternationalQ3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott International
 
Q3 2009 Earning Report of PepsiCo.
Q3 2009 Earning Report of PepsiCo.Q3 2009 Earning Report of PepsiCo.
Q3 2009 Earning Report of PepsiCo.
 
Q3 2009 Earning Report of Alcoa, Inc.
Q3 2009 Earning Report of Alcoa, Inc.Q3 2009 Earning Report of Alcoa, Inc.
Q3 2009 Earning Report of Alcoa, Inc.
 
Q3 2009 Earning Report of Pepsi Bottling Group
Q3 2009 Earning Report of Pepsi Bottling GroupQ3 2009 Earning Report of Pepsi Bottling Group
Q3 2009 Earning Report of Pepsi Bottling Group
 
Q3 2009 Earning Report of Jean Coutu Group
Q3 2009 Earning Report of Jean Coutu GroupQ3 2009 Earning Report of Jean Coutu Group
Q3 2009 Earning Report of Jean Coutu Group
 
Q3 2009 Earning Report of Minerva plc
Q3 2009 Earning Report of Minerva plcQ3 2009 Earning Report of Minerva plc
Q3 2009 Earning Report of Minerva plc
 
Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.
 
Q3 2009 Earning Report of Walgreen
Q3 2009 Earning Report of WalgreenQ3 2009 Earning Report of Walgreen
Q3 2009 Earning Report of Walgreen
 
Q3 2009 Earning Report of Trc Companies Inc.
Q3 2009 Earning Report of Trc Companies Inc.Q3 2009 Earning Report of Trc Companies Inc.
Q3 2009 Earning Report of Trc Companies Inc.
 
Q3 2009 Earning Report of The Mosaic Company
Q3 2009 Earning Report of The Mosaic CompanyQ3 2009 Earning Report of The Mosaic Company
Q3 2009 Earning Report of The Mosaic Company
 
Q3 2009 Earning Report of Sensient Technologies
Q3 2009 Earning Report of Sensient TechnologiesQ3 2009 Earning Report of Sensient Technologies
Q3 2009 Earning Report of Sensient Technologies
 
Q3 2009 Earning Report of Ruby Tuesday Inc.
Q3 2009 Earning Report of Ruby Tuesday Inc.Q3 2009 Earning Report of Ruby Tuesday Inc.
Q3 2009 Earning Report of Ruby Tuesday Inc.
 
Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.
 
Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.Q3 2009 Earning Report of RPM International Inc.
Q3 2009 Earning Report of RPM International Inc.
 
Q3 2009 Earning Report of Quidel Corporation
Q3 2009 Earning Report of Quidel CorporationQ3 2009 Earning Report of Quidel Corporation
Q3 2009 Earning Report of Quidel Corporation
 

Kürzlich hochgeladen

Overview of Inkel Unlisted Shares Price.
Overview of Inkel Unlisted Shares Price.Overview of Inkel Unlisted Shares Price.
Overview of Inkel Unlisted Shares Price.Precize Formely Leadoff
 
Stock Market Brief Deck for "this does not happen often".pdf
Stock Market Brief Deck for "this does not happen often".pdfStock Market Brief Deck for "this does not happen often".pdf
Stock Market Brief Deck for "this does not happen often".pdfMichael Silva
 
project management information system lecture notes
project management information system lecture notesproject management information system lecture notes
project management information system lecture notesongomchris
 
Vp Girls near me Delhi Call Now or WhatsApp
Vp Girls near me Delhi Call Now or WhatsAppVp Girls near me Delhi Call Now or WhatsApp
Vp Girls near me Delhi Call Now or WhatsAppmiss dipika
 
原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证
原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证
原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证rjrjkk
 
PMFBY , Pradhan Mantri Fasal bima yojna
PMFBY , Pradhan Mantri  Fasal bima yojnaPMFBY , Pradhan Mantri  Fasal bima yojna
PMFBY , Pradhan Mantri Fasal bima yojnaDharmendra Kumar
 
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一S SDS
 
Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)ECTIJ
 
《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》
《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》
《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》rnrncn29
 
Financial analysis on Risk and Return.ppt
Financial analysis on Risk and Return.pptFinancial analysis on Risk and Return.ppt
Financial analysis on Risk and Return.ppttadegebreyesus
 
The Core Functions of the Bangko Sentral ng Pilipinas
The Core Functions of the Bangko Sentral ng PilipinasThe Core Functions of the Bangko Sentral ng Pilipinas
The Core Functions of the Bangko Sentral ng PilipinasCherylouCamus
 
Unveiling Business Expansion Trends in 2024
Unveiling Business Expansion Trends in 2024Unveiling Business Expansion Trends in 2024
Unveiling Business Expansion Trends in 2024Champak Jhagmag
 
AnyConv.com__FSS Advance Retail & Distribution - 15.06.17.ppt
AnyConv.com__FSS Advance Retail & Distribution - 15.06.17.pptAnyConv.com__FSS Advance Retail & Distribution - 15.06.17.ppt
AnyConv.com__FSS Advance Retail & Distribution - 15.06.17.pptPriyankaSharma89719
 
The Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh KumarThe Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh KumarHarsh Kumar
 
Stock Market Brief Deck FOR 4/17 video.pdf
Stock Market Brief Deck FOR 4/17 video.pdfStock Market Brief Deck FOR 4/17 video.pdf
Stock Market Brief Deck FOR 4/17 video.pdfMichael Silva
 
NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...
NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...
NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...Amil baba
 
magnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdf
magnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdfmagnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdf
magnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdfHenry Tapper
 
Managing Finances in a Small Business (yes).pdf
Managing Finances  in a Small Business (yes).pdfManaging Finances  in a Small Business (yes).pdf
Managing Finances in a Small Business (yes).pdfmar yame
 
Role of Information and technology in banking and finance .pptx
Role of Information and technology in banking and finance .pptxRole of Information and technology in banking and finance .pptx
Role of Information and technology in banking and finance .pptxNarayaniTripathi2
 
NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...
NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...
NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...Amil baba
 

Kürzlich hochgeladen (20)

Overview of Inkel Unlisted Shares Price.
Overview of Inkel Unlisted Shares Price.Overview of Inkel Unlisted Shares Price.
Overview of Inkel Unlisted Shares Price.
 
Stock Market Brief Deck for "this does not happen often".pdf
Stock Market Brief Deck for "this does not happen often".pdfStock Market Brief Deck for "this does not happen often".pdf
Stock Market Brief Deck for "this does not happen often".pdf
 
project management information system lecture notes
project management information system lecture notesproject management information system lecture notes
project management information system lecture notes
 
Vp Girls near me Delhi Call Now or WhatsApp
Vp Girls near me Delhi Call Now or WhatsAppVp Girls near me Delhi Call Now or WhatsApp
Vp Girls near me Delhi Call Now or WhatsApp
 
原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证
原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证
原版1:1复刻温哥华岛大学毕业证Vancouver毕业证留信学历认证
 
PMFBY , Pradhan Mantri Fasal bima yojna
PMFBY , Pradhan Mantri  Fasal bima yojnaPMFBY , Pradhan Mantri  Fasal bima yojna
PMFBY , Pradhan Mantri Fasal bima yojna
 
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
 
Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)
 
《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》
《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》
《加拿大本地办假证-寻找办理Dalhousie毕业证和达尔豪斯大学毕业证书的中介代理》
 
Financial analysis on Risk and Return.ppt
Financial analysis on Risk and Return.pptFinancial analysis on Risk and Return.ppt
Financial analysis on Risk and Return.ppt
 
The Core Functions of the Bangko Sentral ng Pilipinas
The Core Functions of the Bangko Sentral ng PilipinasThe Core Functions of the Bangko Sentral ng Pilipinas
The Core Functions of the Bangko Sentral ng Pilipinas
 
Unveiling Business Expansion Trends in 2024
Unveiling Business Expansion Trends in 2024Unveiling Business Expansion Trends in 2024
Unveiling Business Expansion Trends in 2024
 
AnyConv.com__FSS Advance Retail & Distribution - 15.06.17.ppt
AnyConv.com__FSS Advance Retail & Distribution - 15.06.17.pptAnyConv.com__FSS Advance Retail & Distribution - 15.06.17.ppt
AnyConv.com__FSS Advance Retail & Distribution - 15.06.17.ppt
 
The Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh KumarThe Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh Kumar
 
Stock Market Brief Deck FOR 4/17 video.pdf
Stock Market Brief Deck FOR 4/17 video.pdfStock Market Brief Deck FOR 4/17 video.pdf
Stock Market Brief Deck FOR 4/17 video.pdf
 
NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...
NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...
NO1 Certified Black Magic Specialist Expert In Bahawalpur, Sargodha, Sialkot,...
 
magnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdf
magnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdfmagnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdf
magnetic-pensions-a-new-blueprint-for-the-dc-landscape.pdf
 
Managing Finances in a Small Business (yes).pdf
Managing Finances  in a Small Business (yes).pdfManaging Finances  in a Small Business (yes).pdf
Managing Finances in a Small Business (yes).pdf
 
Role of Information and technology in banking and finance .pptx
Role of Information and technology in banking and finance .pptxRole of Information and technology in banking and finance .pptx
Role of Information and technology in banking and finance .pptx
 
NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...
NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...
NO1 Certified Amil Baba In Lahore Kala Jadu In Lahore Best Amil In Lahore Ami...
 

Q1 2009 Earning Report of Tupperware Corp.

  • 1. World Headquarters 14901 S. Orange Blossom Trail Orlando, FL 32837 Mailing Address: Post Office Box 2353 Orlando, FL 32802-2353 Contact: Teresa Burchfield 407-826-4560 Tupperware Brands Reports First Quarter 2009 Results; Sales Trend Strengthened Through the Quarter; Raises Earnings Guidance • First Quarter GAAP diluted E.P.S. 41 cents; excluding certain items impacting comparability*, diluted E.P.S. 45 cents, versus February guidance range of 34 to 39 cents • First Quarter Sales up 1% in local currency, on improving trend through the quarter, and down 15% with negative foreign exchange impact Orlando, Fla., April 21, 2009 – (NYSE: TUP) Tupperware Brands Corporation today reported first quarter 2009 sales and profit. First quarter 2009 sales increased in local currency by 1% versus 2008, before a negative impact from foreign exchange rates of 16%. This resulted in a GAAP sales decrease of 15% compared with 2008. Chairman and CEO, Rick Goings commented, “With this current economic backdrop we were pleased to deliver local currency top line growth in a significant portion of our portfolio and 1% overall. We continued to achieve double digit local currency sales growth in the 49% of our business that came from emerging markets, with sales up 10% in local currency (down 13% reported). There were strong double digit increases in our Tupperware Russia, Indonesia, Brazil and Venezuela businesses. Our established markets as a group were down 7% in local currency (down 16% reported). What we really saw in the first quarter, especially in our established markets, was a shift in consumer sentiment between January and February from being almost frozen to slowly beginning to spend again. The pickup in February and March overcame the January decrease by a small margin.” Diluted GAAP earnings per share of 41 cents for the first quarter of 2009 included negative 4 cents from items impacting comparability. Adjusted diluted earnings per share of 45 cents was up 7 cents versus the prior year, excluding a negative 18 cent impact on the comparison from foreign exchange, and 6 cents better than the high end of the guidance given in February. The increase versus last year came primarily from the Tupperware Asia Pacific and Beauty Other segments due to scale benefits, value chain improvements in Venezuela and the benefit of combining the Tupperware and beauty businesses in Brazil that occurred in late 2008. “Even with sales only up 1% in local currency, we were able to exceed our earnings per share guidance through managing our expenses and investments in a way that continued to support our business. * See Non-GAAP Financial Measures Reconciliation Schedule. (more)
  • 2. The savings came from procurement and containing expenses in the back end of the business as our management teams around the world work together to achieve our profitability and cash flow goals while at the same time focusing on driving sales growth” said Rick Goings. Tupperware Brands will conduct a conference call tomorrow, Wednesday April 22, 2009 at 9:00 am Eastern time. The conference call will be webcast and archived along with a copy of this news release on www.tupperwarebrands.com. First Quarter Segment Highlights* Tupperware Segments In Europe, first quarter sales were even with prior year in local currency (down 18% reported). Established markets were down 7% in local currency (down 20% reported) including a double digit decrease in the German market and a low single digit decrease in France. These were partially offset by increases in Greece, Austria and Spain. The emerging markets were up 18% in local currency (down 13% reported). Double digit growth continued in Russia, Turkey and the South African businesses. Profit was in line with sales, even with prior year in local currency (down 19% reported). Total sales force in the segment was up 13% at the end of the first quarter and the first quarter average active sales force was up 9%. Asia Pacific sales were up 13% in local currency (up 2% reported) in the quarter with emerging markets up 31% in local currency (up 16% reported). The growth was led by Indonesia, Malaysia and Singapore, India and Korea, which were up very strongly versus the prior year, partially offset by a decrease in China. The established markets were down 4% in local currency (down 11% reported) coming from both Japanese businesses partially offset by an increase in Tupperware Australia and New Zealand. Profit was up 22% in local currency (up 1% reported) led by double digit increases in Indonesia, Malaysia and Singapore and Korea. Total sales force was up 15% at the end of the first quarter and the active sales force was up 27%. Tupperware North America sales were down 2% in local currency (down 13% reported) versus prior year and included a high single digit increase in Mexico offset by a high single digit decrease in the United States and Canada. The U.S. business was affected by the negative impact of the external environment especially early in the quarter, but experienced improvements in both sales force size and activity as the quarter progressed. Profit for the segment was down $0.6 million, or 22% in local currency (down 33% reported). The total sales force size at the end of March was up 10%, and the active sales force for the quarter was up 5%. Beauty Segments Beauty North America sales were down 7% in local currency (down 24% reported) reflecting high single digit decreases by BeautiControl and Fuller Mexico. BeautiControl is focused on reinvigorating the business by recruiting sales force members under the earnings opportunity versus a discounted entry kit and re-emphasizing party sales. Fuller Mexico ended the quarter with over 500,000 sellers, 2% more than the prior year, but had lower productivity in the quarter. The segment’s profit in the quarter decreased about in line with the sales decrease. Total sales force for the segment was even with the prior year, and the active sales force for the entire segment was down 3%. *Amounts discussed in Segment Highlights are on a GAAP basis and include purchase accounting amortization. See Non-GAAP Financial Measures Reconciliation Schedule for information excluding this item. (more)
  • 3. Beauty Other sales were up 7% in local currency (down 10% reported) with most of the local currency increase coming from Venezuela, Tupperware Brazil and Argentina. Profit of $2.8 million, improved $7.6 million over the prior year on a local currency basis, primarily from the contribution margin associated with the higher local currency sales, along with value chain improvements in Venezuela and Brazil. During the quarter, the Company began selling beauty products in Brazil through its Tupperware sales force rather than through the separate beauty business it had been operating. The total sales force advantage for the segment was 5%, and active sellers were down 7% from the prior year. Second Quarter 2009 Outlook The second quarter sales outlook is for an increase of 2 to 4% in local currency. Factoring in a negative impact from currency of 16%, sales in dollars are expected to decrease by 12 to 14%. GAAP diluted earnings per share is expected to be 62 to 67 cents, with a net positive 5 cents from items impacting comparability. Excluding these items, diluted earnings per share is forecast to be 57 to 62 cents. This compares with GAAP diluted earnings per share of 56 cents last year and 75 cents excluding certain items.* The guidance reflects a negative impact on the comparison of 22 cents from weaker foreign currencies, indicating a double digit percentage local currency increase at the high end of the range. Full Year 2009 Outlook Full year 2009 sales are expected to increase in local currency versus 2008 by 2 to 5%. Based on current foreign exchange rates there is a 13 percentage point negative impact on the comparison, resulting in a GAAP sales decrease of 8 to 11%. The local currency sales increase includes a high single digit increase from businesses in the emerging markets and sales about even to down slightly versus last year in the established market businesses. Earnings per share on both a GAAP basis and excluding items impacting comparability is expected to be $2.16 to $2.26.** This includes a negative 59 cent impact versus 2008 from foreign currency rates. Excluding the impact of foreign exchange on the comparison, this represents an increase over the prior year of 3 to 8% and compares with the February 2009 guidance range of $1.98 to $2.08, which represented a 1 to 6% increase in local currency. This outlook includes foreign exchange rates as of April 21, 2009, for the second, third and fourth quarters of 2009. Rick Goings Chairman and CEO, commented, “As we go into the second quarter and the rest of 2009 we have levers within our control to continue to help drive both our top line sales and our bottom line. With a sales force size advantage of 7%, which was even with the end of 2008, we continue to work on the productivity of our sales force. We are focused on training and promotional incentives that will help not only bring in new recruits, but help them to become active and successful as quickly as possible. This will help drive our full year 2 - 5% top line sales growth. At the same time our management teams are focused on efficient procurement, controlling expenses and otherwise improving our value chains to help ensure we also continue to grow our profit and convert our profit to cash.” “Our management teams around the world are smart, empowered and focused on growing their businesses even in these challenging economic times. As we saw in our first quarter results while some businesses were down others were up, once again showing the benefit of being a global portfolio of direct selling companies.” *2008 Basic and Diluted earnings per share has been recast to conform with FASB Staff Position EITF 03- 6-1, Determining Whether Instruments Granted in Share-Based Payment Transactions are Participating Securities. This guidance was adopted in the first quarter of 2009 and reduced 2008 full year diluted earnings per share by $0.01 versus the originally reported amount. There was no impact from this change on 2008 first quarter basic and diluted earnings per share. **See Non-GAAP Financial Measures Outlook Reconciliation Schedule. (more)
  • 4. Tupperware Brands Corporation is a portfolio of global direct selling companies, selling premium innovative products across multiple brands and categories through an independent sales force of 2.3 million. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products for consumers through the Armand Dupree, Avroy Shlain, BeautiControl, Fuller Cosmetics, NaturCare, Nutrimetics, Nuvo and Swissgarde brands. The Company’s stock is listed on the New York Stock Exchange (NYSE: TUP). Statements contained in this release, which are not historical fact and use predictive words such as quot;outlookquot;, “expects” or quot;targetquot; are forward-looking statements. These statements involve risks and uncertainties which include recruiting and activity of the Company's independent sales forces, the success of new product introductions and promotional programs, the ability to obtain all government approvals on land sales, the success of buyers in obtaining financing or attracting tenants for commercial and residential developments, the effects of economic and political conditions generally and foreign exchange risk in particular and other risks detailed in the Company's most recent periodic report as filed in accordance with the Securities Exchange Act of 1934. The Company does not intend to update forward-looking information other than through its quarterly earnings releases unless it expects diluted earnings per share for the current quarter, excluding adjustment items, to be significantly below its previous guidance. Non-GAAP Financial Measures The Company has utilized non-GAAP financial measures in this release, which are provided to assist readers’ understanding of the Company's results of operations. The adjustment items materially impact the comparability of the Company’s results of operations. The adjusted information is intended to be more indicative of Tupperware Brands’ primary operations, and to assist readers in evaluating performance and analyzing trends across periods. The non-GAAP financial measures exclude gains from the sale of property, plant and equipment and insurance settlements; re-engineering costs; purchase accounting intangible asset amortization; and purchase accounting intangible asset and goodwill impairment costs. While the Company is engaged in a multi-year program to sell land adjacent to its Orlando, Florida headquarters, and also disposes of other excess land and facilities periodically, these activities are not part of the Company’s primary business operation. Additionally, gains recognized in any given period are not indicative of gains which may be recognized in any particular future period. For this reason, these gains are excluded as indicated. Further, the Company excludes significant charges related to casualty losses caused by significant weather events, fires or similar circumstances. It also excludes any related gains resulting from the settlement of associated insurance claims. While these types of events can and do recur periodically, they are excluded from indicated financial information due to their distinction from ongoing business operations, inherent volatility and impact on the comparability of earnings across quarters. Also, the Company periodically records exit costs as defined under Statement of Financial Accounting Standards No. 146, “Accounting for Costs Associated with Exit or Disposal Activities” and other amounts related to rationalizing manufacturing and other restructuring activities, and believes these amounts are similarly volatile and impact the comparability of earnings across quarters. Therefore, they are also excluded from indicated financial information to provide what the Company believes represents a more useful measure for analysis and predictive purposes. The Company has also elected to present financial measures excluding the impact of amortizing the purchase accounting carrying value of certain definite-lived intangible assets, primarily the value of independent sales forces, recorded in connection with the Company’s December 2005 acquisition of the direct selling businesses of Sara Lee Corporation. The amortization expense related to these assets will continue for several years; however, based on the Company’s current estimates, this amortization will decline as the years progress. Similarly in connection with its evaluation of the carrying value of acquired (more)
  • 5. intangible assets and goodwill in the second quarter of 2008, the Company recognized impairment charges. The Company believes that these types of non-cash charges will not be representative in any single year of amounts recorded in prior years or expected to be recorded in future years. Therefore, they are excluded from indicated financial information to also provide a more useful measure for analysis and predictive purposes. Included on the Company’s website at http://ir.tupperwarebrands.com/history.cfm is information detailing the calculation of the Company’s financial covenants for the most recent period, under its Credit Agreement dated September 28, 2007. ###
  • 6. TUPPERWARE BRANDS CORPORATION CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) 13 Weeks Ended 13 Weeks Ended March 28, March 29, (In millions, except per share data) 2009 2008 Net sales $ 462.8 $ 543.4 Cost of products sold 160.1 194.8 Gross margin 302.7 348.6 Delivery, sales and administrative expense 258.8 297.8 Re-engineering and impairment charges 2.7 2.2 Operating income 41.2 48.6 Interest income 0.7 1.1 Interest expense 8.1 8.7 Other expense 1.5 1.4 Income before income taxes 32.3 39.6 Provision for income taxes 6.7 7.5 Net income $ 25.6 $ 32.1 Net income per common share: Basic earnings per share: $ 0.41 $ 0.52 Diluted earnings per share: $ 0.41 $ 0.51
  • 7. TUPPERWARE BRANDS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Amounts in millions, except per share) 13 Weeks 13 Weeks Ended Ended Reported Restated Foreign March 28, March 29, % % Exchange 2009 2008 Inc (Dec) Inc (Dec) Impact Net Sales: Europe $ 181.1 $ 220.2 (18) - $ (38.7) Asia Pacific 71.9 70.2 2 13 (6.6) TW North America 60.3 69.5 (13) (2) (8.0) Beauty North America 87.4 114.7 (24) (7) (20.4) Beauty Other 62.1 68.8 (10) 7 (10.6) $ 462.8 $ 543.4 (15) 1 $ (84.3) Segment profit (loss): Europe $ 30.8 $ 38.1 (19) - $ (7.1) Asia Pacific 10.0 9.9 1 22 (1.8) TW North America 2.0 3.0 (33) (22) (0.4) Beauty North America 9.6 14.4 (33) (6) (4.2) Beauty Other 2.8 (5.6) - - 0.8 55.2 59.8 (8) 17 $ (12.7) Unallocated expenses (12.9) (10.4) 24 Re-engineering and impairment charges (2.7) (2.2) 25 Interest expense, net (7.3) (7.6) (4) Income before taxes 32.3 39.6 (19) Provision for income taxes 6.7 7.5 (10) Net income $ 25.6 $ 32.1 (20) Net income per common share (diluted) $0.41 $ 0.51 (20) Weighted Average number of diluted shares 62.5 63.4
  • 8. TUPPERWARE BRANDS CORPORATION RECONCILIATION (In millions except per share data) 13 Weeks Ended March 28, 2009 13 Weeks Ended March 29, 2008 Reported Adj's Excl Adj's Reported Adj's Excl Adj's Segment profit (loss) Europe $ 30.8 $ 0.1 a$ 30.9 $ 38.1 $ 0.1 a $ 38.2 Asia Pacific 10.0 0.3 a 10.3 9.9 0.4 a 10.3 TW North America 2.0 2.0 3.0 3.0 Beauty North America 9.6 0.4 a 10.0 14.4 0.9 a 15.3 Beauty Other 2.8 0.4 a 3.2 (5.6) 0.9 a (4.7) 55.2 1.2 56.4 59.8 2.3 62.1 Unallocated expenses (12.9) (12.9) (10.4) (10.4) Re-eng and impairment chgs (2.7) 2.7 b - (2.2) 2.2 b - Interest expense, net (7.3) (7.3) (7.6) (7.6) Income before taxes 32.3 3.9 36.2 39.6 4.5 44.1 Provision for income taxes 6.7 1.3 c 8.0 7.5 1.2 c 8.7 Net income $ 25.6 $ 2.6 $ 28.2 $ 32.1 $ 3.3 $ 35.4 Net income per common share (diluted) $ 0.41 $ 0.04 $ 0.45 $ 0.51 $ 0.05 $ 0.56 (a) Amortization of intangibles of acquired beauty units. (b) Includes in 2009, $0.2 million related to relocation of BeautiControl manufacturing facility and $2.5 million related to severance costs incurred to reduce headcount in the Company's BeautiControl, Australia, Mexico, and Argentina operations. In 2008, $0.3 million related to the relocation of the Company's Belgium and BeautiControl manufacturing facilities, $0.5 million to impairment charges for obsolete software in the South Africa Beauty Business, and $1.4 million to severance costs incurred to reduce headcount in the Company's Belgium, Italy, Mexico, Malaysia, Netherlands and Philippines operations. (c) Provision for income taxes represents the net tax impact of adjusted amounts. See information regarding non-GAAP financial measures in the attached press release.
  • 9. TUPPERWARE BRANDS CORPORATION NON-GAAP FINANCIAL MEASURES OUTLOOK RECONCILIATION SCHEDULE April 21, 2009 ($ in millions, except per share amounts) Full Year Full Year 2008 Actual 2009 Outlook Range Low High Income before income taxes $ 201.9 $ 174.5 $ 182.5 % change from prior year -14% -10% Income tax $ 40.5 $ 38.5 $ 40.4 Effective Rate 20% 22% 22% Net Income (GAAP) $ 161.4 $ 136.0 $ 142.1 % change from prior year -16% -12% Adjustments(1): Gains on disposal of assets including insurance recoveries $ (24.9) $ (8.8) $ (8.8) Re-engineering and other restructuring costs 11.9 3.7 3.7 Acquired intangible asset amortization 9.0 4.8 4.8 Purchase accounting intangible impairment 9.0 - - Income tax (2) 3.3 0.3 0.3 Net Income (Adjusted) $ 169.7 $ 136.0 $ 142.1 % change from prior year -20% -16% Exchange rate impact (3) (37.7) - - Net Income (Adjusted and 2008 Restated for currency changes) $ 132.0 $ 136.0 $ 142.1 % change from prior year 3% 8% Net income (GAAP) per common share (diluted) $ 2.55 $ 2.16 $ 2.26 Net Income (Adjusted) per common share (diluted) $ 2.68 $ 2.16 $ 2.26 Average number of diluted shares (millions) 63.4 * 63.0 63.0 (1) Refer to Non-GAAP Financial Measures section of attached release for description of the general nature of adjustment items (2) Represents income tax impact of adjustments (3) 2008 restated at current currency exchange rates *  Basic and Diluted earnings per share has been recast to conform with FASB Staff Position EITF 03‐6‐1, Determining Whether  Instruments Granted in Share‐Based Payment Transactions are Participating Securities .  This guidance was adopted as of the beginning of  2009 and reduced full year diluted earnings per share by $0.01 versus the originally reported amount.
  • 10. TUPPERWARE BRANDS CORPORATION NON-GAAP FINANCIAL MEASURES OUTLOOK RECONCILIATION SCHEDULE April 21, 2009 ($ in millions, except per share amounts) Second Quarter Second Quarter 2008 Actual 2009 Outlook Range Low High Income before income taxes $ 46.2 $ 50.2 $ 54.6 % change from prior year 9% 18% Income tax $ 10.2 $ 11.5 $ 12.7 Effective Rate 22% 23% 23% Net Income (GAAP) $ 35.9 $ 38.7 $ 41.9 % change from prior year 8% 17% Adjustments(1): Gains on disposal of assets including insurance recoveries (0.6) (7.3) (7.3) Re-engineering and other restructuring costs 3.5 0.8 0.8 Acquired intangible asset amortization 2.4 1.2 1.2 Purchase accounting intangible impairment 9.0 - - Income tax (2) (2.4) 1.9 1.9 Net Income (Adjusted) $ 47.8 $ 35.3 $ 38.5 % change from prior year -26% -19% (3) Exchange rate impact (14.1) - - Net Income (Adjusted and 2008 Restated for currency changes) $ 33.7 $ 35.3 $ 38.5 % change from prior year 5% 14% Net income (GAAP) per common share (diluted) $ 0.56 $ 0.62 $ 0.67 Net Income (Adjusted) per common share (diluted) $ 0.75 $ 0.57 $ 0.62 Average number of diluted shares (millions) 63.9 * 62.4 62.4 (1) Refer to Non-GAAP Financial Measures section of attached release for description of the general nature of adjustment items (2) Represents income tax impact of adjustments (3) 2008 restated at current currency exchange rates *  Earnings per share has been recast to conform with FASB Staff Position EITF 03‐6‐1, Determining Whether Instruments Granted in  Share‐Based Payment Transactions are Participating Securities .  This guidance was adopted as of the beginning of 2009 and has increased  the number of shares; however, due to the small amount of the change, there was no impact on 2008 second quarter diluted earnings  per share. 
  • 11. TUPPERWARE BRANDS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) Mar. 28 Dec. 27, (In millions) 2009 2008 Assets Cash and cash equivalents $ 91.4 $ 124.8 Other current assets 569.5 579.0 Total current assets 660.9 703.8 Property, plant and equipment, net 236.9 245.4 Other assets 831.7 866.4 Total assets $ 1,729.5 $ 1,815.6 Liabilities and Shareholders' Equity Short-term borrowings and current portion of long-term debt $ 16.8 $ 3.8 Accounts payable and other current liabilities 375.1 447.7 Total current liabilities 391.9 451.5 Long-term debt 564.8 567.4 Other liabilities 315.3 322.7 Total shareholders' equity 457.5 474.0 Total liabilities and shareholders' equity $ 1,729.5 $ 1,815.6 Total Debt to Capital Ratio 56% at March 2009 and 55% at December 2008 Capital is defined as total debt plus shareholders' equity
  • 12. TUPPERWARE BRANDS CORPORATION CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) 13 weeks ended 13 weeks ended March 28, March 29, (In millions) 2009 2008 OPERATING ACTIVITIES Net cash used in operating activities $ (22.1) $ (48.0) INVESTING ACTIVITIES Capital expenditures (11.0) (11.0) Proceeds from disposal of property, plant & equipment 1.7 1.2 Proceeds from insurance recoveries - 6.4 Net cash used in investing activities (9.3) (3.4) FINANCING ACTIVITIES Dividend payments to shareholders (13.6) (13.5) Repurchase of common stock - (7.3) Net proceeds from issuance of term debt - - Repayment of long-term debt and capital lease obligations (0.4) (1.1) Net change in short-term debt 11.6 46.5 Other, net 0.9 7.2 Net cash (used in) provided by financing activities (1.5) 31.8 Effect of exchange rate changes on cash and cash equivalents (0.5) 3.4 Net change in cash and cash equivalents (33.4) (16.2) Cash and cash equivalents at beginning of year 124.8 102.7 Cash and cash equivalents at end of period $ 91.4 $ 86.5
  • 13. TUPPERWARE BRANDS CORPORATION SUPPLEMENTAL INFORMATION First Quarter Ended March 28, 2009 Sales Force Statistics (a): Segment AVG. ACTIVE % CHG. TOTAL % CHG. Europe 115,279 9 512,426 13 Asia Pacific 48,912 27 365,635 15 TW North America 77,216 5 242,466 10 Tupperware 241,407 11 1,120,527 13 Beauty North America 333,711 (3) 632,279 - Beauty Other 222,821 (7) 554,913 5 Beauty 556,532 (5) 1,187,192 2 Total 797,939 - 2,307,719 7 (a) As collected by the Company and provided by distributors and sales force.