Commenting on the flexible packaging segment results, Theisen said, “Our flexible packaging sales mix improved during the third quarter with increased sales of high barrier packaging for perishable food products such as meat, cheese, dairy products, liquids, and coffee. The facility consolidation program is improving our cost structure and will continue to provide improvement as the remaining activities are completed in early 2013. Overall unit sales volumes were lower than prior year levels. Our focus continues to be improved efficiencies and growth in high barrier and medical device packaging worldwide.”PRESSURE SENSITIVE MATERIALS BUSINESS SEGMENTPressure sensitive materials net sales for the third quarter of 2012 were $135.4 million, down 4.5 percent compared to $141.8 million in the third quarter of 2011. The decrease in net sales primarily reflects the negative impact from currency translation of 4.3 percent. Currency translation in this business segment is primarily related to the Euro. For the third quarter of 2012, operating profit was $7.7 million, or 5.7 percent of net sales, compared to operating profit for the third quarter of 2011 of $8.0 million, or 5.6 percent of net sales. The effect of currency translation decreased operating profit in the third quarter of 2012 by $0.5 million compared to the same quarter of 2011.
Bemis Company Reports Record Results For Third Quarter 2012
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.