AptarGroup Inc. reports record fourth quarter sales and earnings; record annual sales and earnings for 1995.

CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--Feb. 22, 1996--AptarGroup Inc. (NYSE:ATR) today reported record fourth quarter sales and net income and record annual sales and net income for 1995 primarily due to increased sales to the fragrance/cosmetics and pharmaceutical markets.

Commenting on results, Carl A. Siebel, president and chief executive officer, noted, "1995 was our 30th consecutive year of increased sales and another year of record profits. AptarGroup's European operations posted gains in sales and operating profits for the fourth quarter and year. Sales and operating profits increased in North America for the fourth quarter due to improved sales of pumps and dispensing closures. Although sales in North America increased for the year, operating profits were adversely affected by the extended softness in the personal care and household markets, particularly in the demand for aerosol valves."

Fourth Quarter Results

For the quarter ended Dec. 31, 1995, the company reported record net income of $7.7 million, an increase of 24 percent when compared with results for the prior year fourth quarter of $6.2 million. Earnings per share increased to 43 cents per share from 35 cents per share. Sales for the fourth quarter of 1995 were $138.8 million, compared with $118.9 million for 1994, an increase of 17 percent.

Annual Results

Net income for the year ended Dec. 31, 1995 was a record $35.7 million, an increase of 31 percent over the $27.3 million reported in 1994. Earnings per share increased 21 percent to $1.99 per share from $1.65 per share. Per share earnings were impacted by an 8.5 percent increase in the average shares outstanding during 1995 over 1994 due to an equity offering in the fourth quarter of 1994. Net sales for the 12 months of 1995 increased 18 percent to a record $557.5 million compared with $474.3 million for the same period a year ago.

Management Comment

Commenting on fourth quarter results, Siebel said, "AptarGroup's improved performance is attributable to the strength of demand in certain segments of the fragrance/cosmetics market and increased sales to the pharmaceutical market. These results were achieved despite softening demands from customers in the high-end fragrance/cosmetics market in Europe and continued softness in demand for aerosol valves in North America in the quarter. Net income for the fourth quarter of 1995 versus 1994 was negatively impacted by an increase in the tax rate from 35.4 percent to 39.3 percent due to the mix of foreign earnings and an increase in the effective tax rate in France."

Siebel added that fluctuations in the value of the U.S. dollar favorably affected the translation of foreign sales. "If exchange rates had been held constant, sales would have increased by 14 percent for the quarter. If exchange rates had been held constant and the sale of a European non-dispensing closure subsidiary that was sold early in the fourth quarter of 1994 were excluded from 1994 results, sales would have increased 14 percent for the year as well. The subsidiary that was sold in 1994 had sales of $7.4 million in the first nine months of 1994."

The subsidiary that was sold in 1994 had a net loss of $1.2 million in the first nine months of 1994. Also in October 1994, the company sold 1,834,500 shares of common stock. Net proceeds of approximately $44 million were initially used to reduce debt. The elimination of the loss at the subsidiary that was sold in 1994 and the reduction of interest expense from the use of proceeds from the equity offering favorably affects year-to-year earnings comparisons.

Acquisitions

As previously announced, the company completed several acquisitions during the fourth quarter of 1995. The first acquisition was Liquid Molding Systems Inc., a U.S. company that owns the patent and the liquid silicone rubber molding expertise to produce valves for the SimpliSqueeze(TM) dispensing closure system. The company also purchased a 35 percent minority interest in Loffler Kunststoffwerk GmbH, a privately held company that is a leading manufacturer of dispensing and standard closures in Germany and Europe. Lastly, General Plastics S.A., a premier manufacturer of dispensing closures primarily for the French personal care market, was acquired. These acquisitions improve AptarGroup's capability to better serve the dispensing closure needs of European and global customers. The effect of these acquisitions on 1995 sales and net income was not significant.

Cash Dividend

As previously announced, the board of directors declared a quarterly dividend of 7 cents per share, payable Feb. 29, 1996 to shareholders of record as of Feb. 7, 1996.

AptarGroup Inc. manufactures, designs and sells pumps, aerosol valves and closures for fragrance/cosmetic, personal care, pharmaceutical, household and food products. AptarGroup is headquartered in Crystal Lake with manufacturing facilities primarily in the United States and Europe. -0-

                            AptarGroup Inc.
                   Summary of Consolidated Income
      For the three months and year ended Dec. 31, 1995 and 1994
                (In Thousands, Except Per Share Data)

                    Three Months Ended          Year Ended
                         Dec. 31,                Dec. 31,
                    ___________________     ___________________
                      1995       1994          1995       1994
                      ____       ____          ____       ____
Net Sales           $138,800   $118,882      $557,455   $474,266

Cost of Sales         90,422     75,919       358,418    301,547

Selling, General
 and
 Administrative       24,280     22,722        96,237     85,672

Depreciation and
 Amortization         11,168      9,648        43,502     38,377
                      ______     ______        ______     ______

Operating Income      12,930     10,593        59,298     48,670

Other:
 Interest Expense -
  net                    776        641         4,579      6,882
 Other Income
  (Expense) - net        520       (348)        2,883      1,548
                      ______     ______        ______     ______
                         256        989         1,696      5,334
                      ______     ______        ______     ______

Income Before Income
 Taxes                12,674      9,604        57,602     43,336

Provision for Income
 Taxes                 4,987      3,397        21,888     16,078
                      ______     ______        ______     ______

Net Income          $  7,687   $  6,207      $ 35,714   $ 27,258
                      ______     ______        ______     ______
                      ______     ______        ______     ______

Net Income per share
 of Common Stock        $.43       $.35         $1.99      $1.65
                      ______     ______        ______     ______
                      ______     ______        ______     ______
Average Number of
 Shares               17,923     17,814        17,918     16,517
                      ______     ______        ______     ______
                      ______     ______        ______     ______

CONTACT: AptarGroup, Inc., Crystal Lake

Steve Hagge, 815/477-0424

or

Edelman Worldwide, Chicago

Gary Strong, 312/240-2634