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TheStreet Open House

AptarGroup Reports Strong First Quarter With Record Revenues And Earnings

AptarGroup, Inc. (NYSE:ATR) today reported record quarterly revenues and first quarter earnings per share.

First Quarter 2014 Summary

  • Reported sales (and core sales excluding currency effects) rose 9% to $676 million
  • Core sales excluding currency effects increased in each business segment, market and geographic region
  • Reported earnings per share rose 11% to $0.71 compared to $0.64 in the prior year excluding charges related to the European restructuring plan ($0.05 per share) in 2013
  • A higher effective tax rate reduced earnings per share by approximately $0.03 compared to the prior year when excluding the impact of the European restructuring plan in 2013

FIRST QUARTER RESULTS

For the quarter ended March 31, 2014, reported sales increased 9% to $676 million from $618 million a year ago. Changes in currency exchange rates did not have a significant impact on the sales growth.

First Quarter Segment Sales Analysis

(Change Over Prior Year)

 

Beauty +Home

  Pharma  

Food +Beverage

 

TotalAptarGroup

Product Sales (including tooling) 9%   12%   5%   9%
Currency Effects -1%   3%   1%   0%
Total Reported Growth 8%   15%   6%   9%

Commenting on the quarter, Stephen Hagge, President and CEO, said, “We are pleased to report an excellent first quarter with balanced core sales growth across each segment, market and geographic region. Our Pharma segment had another outstanding performance with particularly strong demand from the consumer health care and prescription drug markets. It was also encouraging to see the rise in sales at our Beauty + Home segment driven by increased demand from the beauty and personal care markets. Our Food + Beverage segment’s sales also increased despite custom tooling sales declining compared to the prior year.”

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