Hagge continued, “Throughout the year we’ve been facing a challenging exchange rate environment. We estimate that on a year-to-date basis, changes in exchange rates have negatively impacted sales by approximately 6% with essentially the same impact on our earnings. Aptar Stelmi’s third quarter results contributed approximately 1% to our sales growth in the first nine months but negatively impacted earnings because of the required acquisition accounting adjustments.”Reported diluted earnings per share, which included a negative impact of $0.08 per share related to the Aptar Stelmi acquisition ($0.06 per share from acquisition costs and $0.02 per share from the third quarter Aptar Stelmi results that reflected the acquisition accounting adjustments), decreased 11% to $1.86 per share compared to $2.08 per share a year ago. If the 2012 exchange rates were in place in 2011, AptarGroup estimates that the earnings per share for the first nine months of 2011 would have been approximately $1.95 per share. Prior year earnings per share also reflect a positive impact of $0.04 per share from a lower effective tax rate.
AptarGroup Reports Third Quarter Results; Announces European Operations Optimization Plan
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