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TheStreet Open House

AptarGroup's Strong Fourth Quarter Caps Record Year

AptarGroup, Inc. (NYSE:ATR) today reported record fourth quarter and annual sales.

Fourth Quarter 2013 Summary

  • Reported fourth quarter sales rose 12% to a record level (core sales excluding currency effects increased 10%)
  • Sales growth across all business segments and all geographic regions drove results
  • Reported earnings per share increased 4% to $0.54 from $0.52 in the prior year
  • Retroactive full-year impact of French tax regulations enacted at the end of December negatively impacted current period earnings by $0.10 per share
  • Charges related to the European restructuring plan equaled $0.05 per share in the current period and the prior year
  • Adjusted earnings per share, excluding the impact from the 2013 French tax regulation changes and the restructuring charges, increased 21% to $0.69 from $0.57 in the prior year

FOURTH QUARTER RESULTS

For the quarter ended December 31, 2013, reported sales increased 12% to $637 million from $571 million a year ago. Changes in currency exchange rates accounted for 2% of the sales growth and increased custom tooling sales added another 2% in the quarter.

Fourth Quarter Segment Sales Analysis

(Change Over Prior Year)

Beauty +Home

    Pharma    

Food +Beverage

   

TotalAptarGroup

Product Sales (including tooling) 6%     12%     24%     10%
Currency Effects 1%     4%     2%     2%
Total Reported Growth 7%     16%     26%     12%
 

Commenting on the quarter, Stephen Hagge, President and CEO, said, “The fourth quarter was a strong finish to the year. We remained focused on offering the most innovative products and services to our customers globally and we posted solid sales growth across each of our segments in the final quarter of the year.”

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