This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AptarGroup Reports Third Quarter Results; Announces European Operations Optimization Plan

Hagge continued, “The U.S. Dollar continued to be strong relative to numerous other currencies and this had a significant negative impact on our results. We estimate that the negative impact of changes in currency exchange rates accounted for approximately 8% of the decline in sales and approximately 7% of the decline in earnings in the quarter. Included in our results for the first time were the results of Aptar Stelmi, our most recent acquisition. Aptar Stelmi contributed approximately $25 million to our sales but the required purchase accounting adjustments had a negative impact on earnings. Third quarter earnings per share of $0.62 included a negative impact of $0.02 per share from the Aptar Stelmi results which included the acquisition accounting adjustments. This compared to $0.72 per share reported a year ago. If today’s exchange rates were in place a year ago, we estimate that the prior year’s third quarter earnings per share would have been approximately $0.67 per share. In addition, prior year results were positively impacted by approximately $0.02 per share related to a lower effective tax rate.”


For the nine months ended September 30, 2012, reported sales declined 2% to $1.76 billion from $1.79 billion a year ago. Changes in currency exchange rates negatively impacted sales by approximately 6%. Recently acquired Aptar Stelmi contributed approximately $25.3 million or 1% to the year-to-date sales growth.
Nine Months Year-to-Date Segment Sales Analysis
(Change Over Prior Year)
Beauty + Food + Total
Home   Pharma   Beverage     AptarGroup
Core Sales 1% 3% 11% 3%
Currency Effects -6% -6% -3% -6%
Acquisitions     6%         1%
Total Reported Growth -5%   3%   8%     -2%

Hagge commented on the Company’s year-to-date performance, “In spite of challenging conditions through the first nine months, we’ve been able to grow core sales by 3% and this is on top of strong sales growth last year. Sales growth in the beauty market has been negatively impacted by the recent softness attributable to economic uncertainties, principally in Europe. However, global beauty sales are above last year’s level for the nine months due to a good start to the year and continued strong growth in Latin America. Also driving our sales growth was strong demand for our innovative beverage closures as well as increased demand from the personal care and prescription drug markets over the prior year.”

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 -2.67%
FB $104.07 -5.81%
GOOG $683.57 -3.45%
TSLA $162.60 -7.26%
YHOO $27.97 -4.05%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs