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AptarGroup Reports Second Quarter Results; Declares Dividend

AptarGroup, Inc. (NYSE:ATR) today reported second quarter results and announced that the Board of Directors declared a quarterly dividend.

Second Quarter 2012 Summary

  • Reported sales declined 6% (core sales increased 2% excluding currency effects)
  • Changes in currency exchange rates negatively impacted results
  • Softness in Europe affected each segment
  • Core sales increased significantly in Latin America and Asia
  • Stelmi Group acquisition closed on July 3, 2012, and will broaden Pharma segment portfolio
  • Earnings per share of $0.61 included a negative impact of $0.05 per share related to Stelmi acquisition costs

SECOND QUARTER RESULTS

For the quarter ended June 30, 2012, reported sales declined 6% to $578 million from $615 million a year ago. AptarGroup estimates that changes in currency exchange rates negatively impacted sales by approximately 8% in the quarter.

Second Quarter Segment Sales Analysis
(Change Over Prior Year)
  Beauty +     Food +   Total
Home   Pharma   Beverage  

AptarGroup

Product Sales (including tooling) 0% 4% 6% 2%
Currency Effects -8%   -8%   -4%   -8%
Total Reported Growth -8%   -4%   2%   -6%
 

Commenting on the quarter, Stephen Hagge, President and CEO, said, “The diversity of our business enabled us to grow core sales in a challenging environment. Broad-based softness in Europe affected each of our business segments as the economic uncertainty there resulted in reduced consumer spending and increased caution by certain customers. Offsetting part of this weakness was strong demand from customers in Latin America and Asia.”

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