This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Silgan Announces Record 2011 Earnings; Expects Further Earnings Growth In 2012

Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid packaging for consumer goods products, today reported full year 2011 net income of $193.2 million, or $2.75 per diluted share, as compared to full year 2010 net income of $144.6 million, or $1.89 per diluted share. Adjusted net income per diluted share was $2.63 for the full year 2011, after a net adjustment reducing net income per diluted share by $0.12. Adjusted net income per diluted share was $2.22 for the full year 2010, after a net adjustment increasing net income per diluted share by $0.33. A reconciliation of net income per diluted share to “adjusted net income per diluted share,” a Non-GAAP financial measure used by the Company, which adjusts net income per diluted share for certain items, can be found in Tables A and B at the back of this press release.

“We delivered record adjusted net income per diluted share of $2.63 in 2011, an 18.5 percent increase over the prior year. In addition, we continue to position the Company for growth in earnings per share through strategic acquisitions, expanded capital spending and moves to further strengthen our balance sheet,” said Tony Allott, President and CEO. “Our metal container business improved its profitability with the recently acquired Vogel & Noot operations and strong operational performance, which offset lower unit volumes primarily as a result of a weak fruit and vegetable pack in 2011. Our closures business benefited from the recently acquired IPEC and DGS operations and performed well despite a volatile polypropylene resin market and some volume weakness in the single-serve beverage market. As expected, our plastic container business continued to experience higher costs associated with resolving operational issues from recent restructuring activities along with volatility in the resin market and a less favorable mix of sales. However, we will continue to move forward on rationalization efforts to further reduce our cost structure and make necessary moves to support our customers through this challenging time. Once completed, we are confident our plastic container business will be poised for enhanced profit and returns,” continued Mr. Allott. “In total, 2011 was another record year for Silgan, and we anticipate eclipsing it again in 2012 as we deliver continued improvements in each of our businesses,” concluded Mr. Allott.

1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs