- Net sales totaled $1.3 billion.
- Gross margin as a percentage of net sales increased to 17.7 percent, the highest quarterly rate since 2010.
- Adjusted diluted earnings was $0.49 per share, an increase of 4.3 percent from the first quarter of 2011 and at the upper end of management’s guidance of $0.43 to $0.49 per share.
- Facility consolidation charges totaled $8.3 million.
- Cash flow generated from operating activities totaled $48.8 million compared to a use of cash during the first quarter of 2011.
- Bemis’ quarterly dividend increased by 4.2 percent, from $0.24 per share to $0.25 per share.
- Management established earnings guidance for the second quarter of 2012 in the range of $0.51 to $0.57 per share, and confirmed total year 2012 earnings guidance in the range of $2.05 to $2.20 per share.
Bemis Company Reports 2012 First Quarter Results
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