Hagge continued, “The U.S. Dollar continued to be strong relative to numerous other currencies and this had a significant negative impact on our results. We estimate that the negative impact of changes in currency exchange rates accounted for approximately 8% of the decline in sales and approximately 7% of the decline in earnings in the quarter. Included in our results for the first time were the results of Aptar Stelmi, our most recent acquisition. Aptar Stelmi contributed approximately $25 million to our sales but the required purchase accounting adjustments had a negative impact on earnings. Third quarter earnings per share of $0.62 included a negative impact of $0.02 per share from the Aptar Stelmi results which included the acquisition accounting adjustments. This compared to $0.72 per share reported a year ago. If today’s exchange rates were in place a year ago, we estimate that the prior year’s third quarter earnings per share would have been approximately $0.67 per share. In addition, prior year results were positively impacted by approximately $0.02 per share related to a lower effective tax rate.”YEAR-TO-DATE RESULTS For the nine months ended September 30, 2012, reported sales declined 2% to $1.76 billion from $1.79 billion a year ago. Changes in currency exchange rates negatively impacted sales by approximately 6%. Recently acquired Aptar Stelmi contributed approximately $25.3 million or 1% to the year-to-date sales growth.
|Nine Months Year-to-Date Segment Sales Analysis|
|(Change Over Prior Year)|
|Beauty +||Food +||Total|
|Total Reported Growth||-5%||3%||8%||-2%|