AptarGroup Lowers Earnings Estimate

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(ATR) - Get Report

warned that its fourth-quarter earnings will be lower than expected, due primarily to decreased sales.

The pump dispenser bottle maker said it now expects between 26 cents and 28 cents a share. In October, the company originally forecast 32 cents to 38 cents a share, and Wall Street had been expecting 35 cents, according to Thomson Financial/First Call.

The company also warned that the sales decline would continue into 2002, but it expects double-digit growth for the full year.

Shares of AptarGroup closed at $35.26 Tuesday on the New York Stock Exchange.