Feb 11, 2010
AptarGroup fourth quarter profit rises, says first quarter earnings to improve
Feb 11, 2010
Feb 10 (Reuters) - Cosmetics and perfume dispenser maker AptarGroup Inc (ATR.N) posted a 14 percent rise in quarterly profit, helped by strong sales in its segments, and forecast first-quarter earnings above market expectations.
The company posted fourth-quarter earnings of $36.1 million, or 52 cents a share, compared with $31.7 million, or 46 cents a share, a year earlier.
Revenue rose 9 percent to $495.6 million.
Analysts on average were expecting earnings of 47 cents a share, on revenue of $466.6 million, according to Thomson Reuters I/B/E/S.
The company also said it is realigning its businesses and expects to be fully operating under the new structure beginning in 2011.
"Once the realignment is complete, we will have a simplified customer-facing structure with three focused brands," AptarGroup said in a statement.
AptarGroup also forecast first-quarter earnings of 48 cents to 53 cents a share.
Shares of the Crystal Lake, Illinois-based company closed at $35.08 Wednesday 10 February on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore; Editing by Gopakumar Warrier)
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