AptarGroup, Inc. (NYSE:ATR) today reported record third quarter revenue and strong quarterly earnings per share.
Third Quarter 2013 Summary
- Reported sales increased 6% from the prior year to a third quarter record of $624 million (core sales excluding currency effects increased 4%)
- Sales growth was driven by increased sales of the Pharma and Beauty + Home segments
- Food + Beverage sales were impacted by weak demand from the beverage market and decreased custom tooling sales
- Earnings were negatively impacted by continued soft demand in various U.S. markets, increased resin costs, and foreign currency transaction effects primarily in Latin America
- In spite of the challenging conditions, reported earnings per share rose 8% to $0.67 from $0.62 in the prior year
- Earnings per share excluding charges related to the European restructuring plan reached $0.70
THIRD QUARTER RESULTS
For the quarter ended September 30, 2013, reported sales increased 6% to $624 million from $590 million a year ago. Changes in currency exchange rates accounted for 2% of the sales growth in the quarter.
| Third Quarter Segment Sales Analysis
(Change Over Prior Year)
|Product Sales (including tooling)||4%||7%||-1%||4%|
|Total Reported Growth||5%||10%||0%||6%|