AptarGroup, Inc. (NYSE:ATR) today reported third quarter results and announced a plan to optimize certain European operations.
Third Quarter 2012 Summary
- Reported sales declined 2% (core sales increased 2% excluding currency effects and acquisition)
- Certain markets in Europe continued to be soft; Latin America and Asia remained strong
- Aptar Stelmi added $25 million in reported sales
- Changes in currency exchange rates negatively impacted sales by approximately 8% and earnings by approximately 7%
- Earnings per share of $0.62 included a negative impact of $0.02 per share related to Aptar Stelmi’s results that included acquisition accounting effects
- European operations optimization plan announced
THIRD QUARTER RESULTS
For the quarter ended September 30, 2012, reported sales declined 2% to $589.6 million from $601.2 million a year ago. Changes in currency exchange rates negatively impacted sales by approximately 8%. Recently acquired Aptar Stelmi contributed approximately $25.3 million or 4% to the quarterly sales growth.
|Third Quarter Segment Sales Analysis|
|(Change Over Prior Year)|
|Beauty +||Food +||Total|
|Total Reported Growth||-7%||7%||12%||-2%|