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AptarGroup CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: ATR

We will post a replay of this conference call on our website as we've done in the past. AptarGroup undertakes no obligation to update the forward-looking information. And at this time, I'd like to turn the conference over to Steve Hagge.

Steve Hagge

Thanks, Matt, and good morning, everyone. I'm pleased to report that 2011 was another record year for AptarGroup. I'd like to recognize the hard work of our talented employees have put into our business this past year. Their dedication is the reason for our success and why we're the leader in our industry.

As we look back on 2011 it was an exciting year. We began reporting the results of our newly aligned business segments. Each of our three segments reported sales growth over the prior year. We entered new market categories. We expanded our global presence. And we enhanced shareholder value.

I'll briefly recap the full year performance of our segments and then comment on the fourth quarter. I'll begin with our Beauty and Home segment, which completed the year with organic sales growth of 6%. Demand for our products from the fragrance, cosmetic and household markets remained strong throughout much of the year, while demand from our personal care market also increased over the prior year. However, profit margins were pressured due to a competitive market, under utilized capacity towards the end of the year, increased professional fees and our overall product mix.

Our Pharma segment had an outstanding year with strong organic sales growth of 10%. We entered a new category in the consumer healthcare segment with our preservative free Ophthalmic dispenser and we saw continued growth in our prescription segment, particularly from the strong demand from the generic market in the US. Our Pharma segment's profitability remained strong throughout the year reflecting our ability to help our customers grow in this highly specialized and regulated industry.

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