AptarGroup Reports Record Fourth Quarter Sales And Completes Record Year

OUTLOOK

Hagge commented, “As we look to the first quarter of 2012, we are up against a difficult comparison to the prior year due to our strong results and a negative currency exchange rate environment. We also expect that certain customers will remain cautious into the first quarter. However, we are encouraged by the activity of 2012 customer projects and by our long-term growth prospects. Currently we anticipate that our first quarter diluted earnings per share will be in the range of $.60 to $.65 per share compared to $.64 per share reported last year.”

OPEN CONFERENCE CALL

There will be a conference call on Friday, February 10, 2012 at 8:00 a.m. CST to discuss the Company’s fourth quarter and annual results for 2011. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page at www.aptar.com. Replay of the conference call can also be accessed on the Investor Relations page of the website.

AptarGroup, Inc. is a leading global supplier of a broad range of innovative dispensing systems for the fragrance/cosmetic, personal care, pharmaceutical, household and food/beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia and South America. For more information, visit www.aptar.com.

This press release contains forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on management’s beliefs as well as assumptions made by and information currently available to management. Accordingly, AptarGroup’s actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist including, but not limited to, economic, environmental or political conditions in the various markets and countries in which AptarGroup operates, changes in customer and/or consumer spending levels; financial conditions of customers and suppliers; fluctuations in the cost of raw materials, components and other input costs; the Company’s ability to increase prices, contain costs and improve productivity; changes in capital availability or cost, including interest rate fluctuations; the competitive marketplace; fiscal and monetary policy; changes in foreign currency exchange rates; direct or indirect consequences of acts of war or terrorism; and labor relations. For additional information on these and other risks and uncertainties, please see AptarGroup’s filings with the Securities and Exchange Commission, including its Form 10-K’s and Form 10-Q’s. Readers are cautioned not to place undue reliance on forward-looking statements . AptarGroup undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

APTARGROUP, INC.
Condensed Consolidated Financial Statements (Unaudited)
(In Thousands, Except Per Share Data)
CONSOLIDATED STATEMENTS OF INCOME
		Three Months Ended								Year Ended
		December 31,								December 31,
		2011				2010				2011				2010
Net Sales		$	544,540			$	530,790			$	2,337,183			$	2,076,719
Cost of Sales (exclusive of depreciation shown below)			369,367				359,922				1,568,286				1,378,792
Selling, Research & Development and Administrative			80,144				75,847				347,629				296,861
Depreciation and Other Amortization			32,219				34,082				134,243				132,959
Facilities Consolidation and Severance Expenses			(71	)			(288	)			(71	)			93
Operating Income			62,881				61,227				287,096				268,014
Other Income/(Expense):
Interest Expense			(3,932	)			(3,791	)			(17,300	)			(14,371	)
Interest Income			1,000				1,200				5,722				3,248
Equity in Results of Affiliates			(143	)			15				(17	)			15
Miscellaneous, net			727				(120	)			(559	)			(2,521	)
Income before Income Taxes			60,533				58,531				274,942				254,385
Provision for Income Taxes			21,901				17,817				91,312				80,796
Net Income		$	38,632			$	40,714			$	183,630			$	173,589
Net (Income)/Loss Attributable to Noncontrolling Interests			(12	)			67				53				(108	)
Net Income Attributable to AptarGroup, Inc.		$	38,620			$	40,781			$	183,683			$	173,481
Net Income Attributable to AptarGroup, Inc. Per Common Share:
Basic		$	0.59			$	0.61			$	2.76			$	2.58
Diluted		$	0.57			$	0.59			$	2.65			$	2.48
Average Numbers of Shares Outstanding:
Basic			65,976				66,965				66,553				67,344
Diluted			68,159				69,397				69,274				69,815

APTARGROUP, INC.
Condensed Consolidated Financial Statements (Unaudited)
(continued)
(In Thousands)
CONSOLIDATED BALANCE SHEETS
		December 31, 2011			December 31, 2010
ASSETS
Cash and Equivalents		$	377,616		$	376,427
Receivables, net			389,020			357,110
Inventories			285,155			272,255
Other Current Assets			92,159			58,191
Total Current Assets			1,143,950			1,063,983
Net Property, Plant and Equipment			754,715			724,984
Goodwill, net			233,689			227,029
Other Assets			26,941			16,722
Total Assets		$	2,159,295		$	2,032,718
LIABILITIES AND EQUITY
Short-Term Obligations		$	183,668		$	95,566
Accounts Payable and Accrued Liabilities			335,181			327,756
Total Current Liabilities			518,849			423,322
Long-Term Obligations			254,910			258,773
Deferred Liabilities			94,964			70,849
Total Liabilities			868,723			752,944
AptarGroup, Inc. Stockholders' Equity			1,289,776			1,278,923
Noncontrolling Interests in Subsidiaries			796			851
Total Equity			1,290,572			1,279,774
Total Liabilities and Equity		$	2,159,295		$	2,032,718

APTARGROUP, INC.
Condensed Consolidated Financial Statements (Unaudited)
(continued)
(In Thousands)
SEGMENT INFORMATION
		Three Months Ended								Year Ended
		December 31,								December 31,
		2011				2010				2011				2010
NET SALES
Beauty + Home		$	349,804			$	350,718			$	1,516,305			$	1,380,070
Pharma			136,778				127,462				553,930				476,247
Food + Beverage			57,958				52,610				266,948				220,402
Total Net Sales		$	544,540			$	530,790			$	2,337,183			$	2,076,719
SEGMENT INCOME (1)
Beauty + Home		$	26,333			$	30,856			$	130,888			$	132,172
Pharma			40,332				36,021				164,390				134,531
Food + Beverage			4,726				3,038				27,802				27,796
Corporate Expenses and Other			(7,926	)			(8,793	)			(36,560	)			(28,991	)
Total Income Before Interest and Taxes		$	63,465			$	61,122			$	286,520			$	265,508
Interest Expense, Net			(2,932	)			(2,591	)			(11,578	)			(11,123	)
Income before Income Taxes		$	60,533			$	58,531			$	274,942			$	254,385
SEGMENT INCOME AS % OF NET SALES
Beauty + Home			7.5	%			8.8	%			8.6	%			9.6	%
Pharma			29.5	%			28.3	%			29.7	%			28.2	%
Food + Beverage			8.2	%			5.8	%			10.4	%			12.6	%
Notes to Condensed Consolidated Financial Statements:
(1) The Company evaluates performance of its business units and allocates resources based upon income before net interest expense, certain corporate expenses, and income taxes.

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