AptarGroup Expects Weak 2nd-quarter Profit

CRYSTAL LAKE, Ill. (AP) — AptarGroup Inc., which makes dispensers for beauty products, said Wednesday it expects a weak second-quarter on a continued downturn in sales.

The company said it expects second-quarter profit between 37 cents and 42 cents per share. A year ago, it had second-quarter profit of 64 cents per share.

Analysts polled by Thomson Reuters expect profit of 53 cents per share.

"Looking forward, our visibility continues to be very limited," said President and Chief Executive Peter Pfeiffer, in a statement. "Presently we expect that the conditions we experienced in the first quarter will continue into the second quarter."

The outlook follows the company's first-quarter report, which showed a 28 percent drop in profit on falling sales. AptarGroup also said it will consolidate two facilities in France and consolidate sales offices in North America and Europe.

Shares fell $1.86, or 5.8 percent, to $30.50 in after-hours trading after the earnings report and outlook were issued. In the regular session, the stock gained 36 cents to close at $32.36.