Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener.
On Feb. 5, 2009,
registered an 11.5% fall in its Q4 FY08 earnings on lower sales. Net income declined to $31.67 million or $0.46 per share from $35.80 million or $0.50 per share a year ago. The latest quarterly earnings topped the consensus estimate of $0.44 per share.
The company's revenue decreased 5.8% to $455.93 million from $483.76 million a year ago, adversely affected by unfavorable foreign exchange rates. Excluding currency effects, sales grew 2.0% year-over-year, driven by acquisitions as well as increased product and custom tooling sales by the company's Closures and Pharma segments. Segment-wise, Beauty & Home revenues slipped 10.3% to $228.15 million from $254.46 million. Closures revenue dipped 3.3% to $120.80 million from $124.97 million in the prior year's quarter. On the positive side, revenue from the Pharma segment increased 2.6% to $106.98 million from $104.25 million as a result of strong demand for metered dose inhaler valves and nasal spray pumps.
Recently, the company declared a quarterly dividend of $0.15 per share, payable on Feb. 19, 2009.
For FY08, net sales grew 9.5% to $2.07 billion from $1.89 billion in FY07, as increased product sales contributed 5.0% to sales growth and changes in exchange rates added 4.0%. Accordingly, earnings rose 8.3% to $153.50 million or $2.18 per share from $141.74 million or $1.98 per share.
Looking forward, AptarGroup expects softness in its Beauty & Home and Closures segments during the upcoming quarters, and anticipates earnings per share to be in the range of $0.35 to $0.40 per share compared to earnings of $0.52 per share in the prior year's quarter.
A detailed report covering this quarterly release is now available. To purchase the report, click here.