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AptarGroup Reports Record First Quarter Revenue; Earnings Per Share Equal Prior Year’s Record First Quarter Level

Stocks in this article: ATR

AptarGroup, Inc. (NYSE:ATR) today reported record first quarter sales. Earnings per share equaled the prior year’s all-time high first quarter earnings per share.

First Quarter 2012 Summary

  • Reported sales grew 3% (6% excluding currency effects) to first quarter record of $592 million
  • Changes in currency exchange rates negatively affected results
  • Each segment’s sales increased over the prior year
  • Operating income rose to record first quarter level of $70.4 million
  • Earnings per share of $.64 were equal to the prior year’s record first quarter level

FIRST QUARTER RESULTS

For the quarter ended March 31, 2012, reported sales increased 3% to $592.5 million from $576.5 million a year ago. Changes in currency exchange rates had a negative effect of 3% on the sales growth.

First Quarter Segment Sales Analysis

(Change Over Prior Year)

 
 

Beauty +Home

  Pharma  

Food +Beverage

 

TotalAptarGroup

Product Sales (including tooling) 3 % 8 % 11 % 6 %
Currency Effects -3 % -2 % -1 % -3 %
Total Reported Growth 0 % 6 % 10 % 3 %
 

Commenting on the quarter, Stephen Hagge, President and CEO, said, “I am pleased to report we achieved record first quarter sales with core growth of 6%. Our Beauty + Home segment realized core sales growth of 3% on increased sales of our products to each of the markets we serve. Strong demand for our nasal dispensing devices drove our Pharma segment’s sales growth while increased demand for our value-adding dispensing closures from the beverage market was a key factor behind our Food + Beverage segment’s performance. We also had a very successful quarter in the emerging regions.”

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