Dial eyes aquisitions
This article was originally published in The Tan Sheet
Executive Summary
Firm looking to expand by purchasing new brand for its personal cleaning or household products divisions, CEO Herb Baum states at Banc of America securities Health Conference in San Francisco Sept. 16. Any acquisition "has to have an 18% or higher operating margin" to fit in company's current distribution system, exec notes, adding "we're good at liquid in a bottle." Baum also says international expansion is on hold after prior management team's ill-fated efforts in Argentina (1"The Tan Sheet," February 10, 2003, p. 10). "We're going to stay close to home...[as] there is a lot of growth left in North America," he asserts. Company is "comfortable" with third quarter and full-year guidance of $0.34 and $1.33 earning per share, respectively...