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Reuters
Published
Oct 15, 2009
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AptarGroup posts lower third quarter profit; shares fall

By
Reuters
Published
Oct 15, 2009

Oct 14 (Reuters) - Cosmetics and perfume-dispenser maker AptarGroup Inc (ATR.N) posted a 16 percent fall in quarterly profit, hurt by lower income across its operating segments, and forecast fourth-quarter earnings in line with analysts' view.


Photo: www.aptargroup.com

Excluding items, the company expects fourth-quarter earnings of 43 cents to 48 cents a share. Analysts on average were expecting a profit of 46 cents a share, before items, according to Thomson Reuters I/B/E/S.

"As we look to the fourth quarter, some of our customers remain cautious going into the end of the year given the continuing weak consumer sentiment and, consequently, our global visibility remains limited at this time," Chief Executive Peter Pfeiffer said in a statement.

Net income for the latest third quarter ended Sept. 30 was $33.5 million, or 48 cents a share, compared with $39.7 million, or 57 cents a share, a year ago. Excluding items, it earned 51 cents a share.

Sales at the company, which serves the personal care, cosmetics, pharmaceutical, and food & beverage markets, fell 11 percent to $473.7 million.

Analysts' average earnings view was for 47 cents a share on revenue of $466 million.

Beauty and home segment income declined 21 percent in the quarter and closures segment income fell 15 percent, the company said in a statement. Shares of the Crystal Lake, Illinois-based company fell 2 percent to $37.99 in trading after the bell. They closed at $38.89 Wednesday 14 October on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Pradeep Kurup)

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