UPDATE: Newell Rubbermaid Reports Upbeat Q2 Profit, Lowers Forecast

Newell Rubbermaid Inc (NYSE:

) reported upbeat Q2 profit and lowered its projections for the year. Newell Rubbermaid's quarterly profit increased to $146.7 million, or $0.49 per share, from $130.4 million, or $0.41 per share, in the year-ago period. Its sales climbed 5.1% to $1.57 billion. Newell Rubbermaid's adjusted earnings came in at $0.46 per share. However, analysts were expecting earnings of $0.42 per share on sales of $1.55 billion. Newell Rubbermaid lowered its adjusted earnings forecast for the year to a range of $1.55 to $1.62 per share, from its earlier earnings forecast of $1.60 to $1.67 per share. Analysts expected earnings of $1.58 a share. Newell Rubbermaid shares dropped 2.11% to close at $14.37 yesterday.