Overall, net sales for the quarter rose to $528 million, reflecting in part a three percent growth on the swimming pool side of the business and eight percent growth on the irrigation side of the business. This growth is primarily attributable to market share gains, modest growth in consumer discretionary expenditures and some price inflation, offset by a one percent decline from the impact of unfavorable currency fluctuations, according to an announcement by Manuel Perez de la Mesa, president and CEO.
“We realized strong third quarter results despite the challenging external environment and one less selling day than the third quarter of 2011,” he said. “Based on results through September, we are revising our 2012 earnings guidance from our previous range of $1.75 to $1.82 per diluted share to a projected range of $1.80 to $1.83 per diluted share excluding the $0.14 goodwill impairment charge. We are confident in the long term growth opportunities available in our industry and are actively investing to realize those opportunities.”
POOLCORP is the largest wholesale distributor of swimming pool and related backyard products, operating 312 sales centers in North America and Europe, through which it distributes more than 160,000 national brand and private label products to roughly 80,000 wholesale customers.
