AptarGroup Reports Record Fourth Quarter Sales And Completes Record Year

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

Fourth Quarter 2011 Summary
  • Sales up 3% to fourth quarter record of $545 million
  • Strong sales growth in Pharma and Food + Beverage segments
  • Beauty + Home sales and margins affected by softness in the U.S. and Europe
  • Effective tax rate rose to 36.2% compared to 30.4% a year ago due to increased French taxes of $1.7 million primarily related to a surtax enacted in December
  • Reported earnings per share reached $.57 compared to $.59 a year ago

FOURTH QUARTER RESULTS

For the quarter ended December 31, 2011, reported sales increased 3% to $544.5 million from $530.8 million a year ago. The effect of changes in currency exchange rates was insignificant.
Fourth Quarter Segment Sales Analysis

(Change Over Prior Year)
        Total
Beauty + Home   Pharma   Food + Beverage   AptarGroup
Product Sales (including tooling) --- 7 % 11 % 3 %
Currency Effects -1 % --- -1 % ---
Acquisitions 1 %   ---     ---     ---  
Total Reported Growth 0 %   7 %   10 %   3 %
 

Commenting on the quarter, Stephen J. Hagge, President and CEO, said, “The diversity of the markets and regions we serve once again proved that we can continue to grow in spite of softness in any one particular market or region. Consolidated sales grew on a reported and organic basis by 3%. As we anticipated, it was a challenging quarter for our Beauty + Home segment. We were going up against a strong fourth quarter of 2010 and certain customers remained cautious going into the end of the year particularly in the U.S. and Europe. However, strong results from Latin America and Asia allowed our Beauty + Home segment to achieve sales that were in-line with the prior year. Demand for our patient-friendly drug delivery devices from the prescription drug market drove our Pharma segment’s sales growth of 7%, and demand for innovative dispensing closures from the beverage market was the primary reason behind our Food + Beverage segment’s sales growth of 10%.”

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