Hagge continued, “Beauty + Home margins were pressured primarily by underutilized overhead resulting from the soft demand in the U.S. and Europe. In spite of this, our consolidated operating income reached a record fourth quarter level, driven by the profitability and sales growth of our Pharma and Food + Beverage segments. Our quarterly effective tax rate increased to 36.2% compared to 30.4% in the fourth quarter of 2010. The effective tax rate increased because of higher taxes in France of approximately $1.7 million that were primarily due to a retroactive surtax that was enacted by the French government in late December. Reflecting the impact of the higher tax rate, our reported diluted earnings per share reached $.57 per share compared to $.59 per share a year ago.”ANNUAL RESULTS
AptarGroup Reports Record Fourth Quarter Sales And Completes Record Year
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