Net sales for the second quarter of 2012 were $821.6 million, a decrease of $0.6 million as compared to $822.2 million in 2011. This decrease was the result of lower net sales over the prior year period in the metal container and closures businesses due primarily to the impact of unfavorable foreign currency translation, partially offset by higher net sales in the plastic container business.Income from operations for the second quarter of 2012 was $68.6 million as compared to $94.5 million for the second quarter of 2011, and operating margin decreased to 8.3 percent from 11.5 percent over the same periods. The decrease in income from operations was primarily attributable to income of $27.0 million included in the second quarter of 2011 in corporate selling, general and administrative expenses for proceeds received as a result of the termination of the Graham Packaging merger agreement, net of costs attributable to certain corporate development activities, and a decrease in income from operations in the metal container business, partially offset by an increase in income from operations in the plastic container and closures businesses.
Silgan Announces Second Quarter Earnings And Confirms Full Year 2012 Estimate
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