Hagge continued, “Earnings, before any effects of our European Operations Optimization plan, reached a record level due to the strong performances of our legacy Pharma business, Aptar Stelmi, and our Food + Beverage business. While showing improvement from the first quarter of 2013, our Beauty + Home segment’s second quarter results compared to the prior year were negatively impacted by decreased sales to the beauty and home care markets.”

In the quarter, AptarGroup recognized charges related to its EOO plan and this had a negative effect on earnings per share of approximately $0.04. AptarGroup’s previous earnings per share guidance for the second quarter did not include any impact from this optimization plan. Second quarter earnings per share, excluding the charges related to this plan, were $0.77 and this compared to $0.66 per share for the same period a year ago when costs associated with the Stelmi acquisition (approximately $0.05 per share) are excluded from the prior year results.

YEAR-TO-DATE RESULTS

For the six months ended June 30, 2013, reported sales increased 8% to $1.26 billion from $1.17 billion a year ago. Aptar Stelmi contributed approximately $74 million or 6% to the year-to-date sales growth. Changes in currency exchange rates did not impact consolidated sales compared to the prior year.
Six Months Year-to-Date Segment Sales Analysis

(Change Over Prior Year)
 
     

Beauty +Home
      Pharma      

Food +Beverage
     

TotalAptarGroup
Product Sales (including tooling) -1%       2%       11%       2%
Currency Effects 1%
Acquisitions         27%               6%
Total Reported Growth -1%       29%       12%       8%
 

Hagge commented on the year-to-date results, “Our core sales growth for the first half of the year reflected the consistently strong performance of our Food + Beverage segment and the rebound in the second quarter of our Pharma segment. Our Beauty + Home segment sales were negatively affected by the softness in the U.S. relative to other regions. Aptar Stelmi had an outstanding first half.”

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