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APTARGROUP, INC. REPORTS THIRD QUARTER EARNINGS AND DECLARES DIVIDEND

 CRYSTAL LAKE, Ill., Oct. 28 /PRNewswire/ -- AptarGroup, Inc. (NYSE: ATR) today reported net income for the third quarter ended Sept. 30, 1993, of $5.1 million, or $.32 per share, an increase of 4 percent when compared with results for the prior-year third quarter of $4.9 million. Net income for the quarter was adversely affected, approximately $.01 per share, by recent U.S. federal tax law changes. Sales for the third quarter 1993 were $105 million, compared with $93.2 million for 1992, an increase of 13 percent.
 Net income for the first three quarters 1993 was impacted by a one- time adjustment relating to income taxes of $1.4 million as a result of the


company's adoption of FAS 109 in the first quarter. Net income for the nine months ended Sept. 30, 1993, was $17.3 million, or $1.07 per share before the accounting change, an increase of 10 percent when compared with results for the nine months ended Sept. 30, 1992, of $15.7 million. Net income after the accounting change was $18.7 million, an increase of 19 percent from the prior year's level. On a year-to-date basis, net income was adversely affected by the recent U.S. federal tax law changes by approximately $.01 per share. Net sales for the first nine months of 1993 increased 11 percent to $308.1 million compared with $276.8 million for the same period a year ago.
 On April 22, 1993, the tax-free spinoff of AptarGroup (formerly Seaquist Group) from Pittway Corp. was completed. Immediately following the spinoff, AptarGroup acquired the 65 percent of the Pfeiffer Group that it did not already own and certain minority interests in its European operations in exchange for AptarGroup stock. The Pfeiffer Group was a privately held German-based manufacturer of pump dispensing systems for the pharmaceutical and fragrance/cosmetics markets. The Pfeiffer Group acquisition has been accounted for as a purchase. Accordingly, the operating results of the Pfeiffer Group have been included in AptarGroup's consolidated historical results since the acquisition date. Approximately $15.4 million of third quarter sales and $26.4 million of year-to-date sales were due to the consolidation of the Pfeiffer Group since the acquisition.
 (Summaries for consolidated historical as well as pro forma third quarter results giving effect to the Pfeiffer Group and the minority interest acquisition discussed above as if they had occurred at the beginning of each year, to follow.)
 Commenting on the third quarter results, Ervin J. LeCoque, chairman and chief executive officer, said, "Despite a weakened European economy, we have continued to realize an increase in sales and profits worldwide in part because of our leadership in product innovation and our emphasis on service and quality. Because the stronger U.S. dollar adversely affected the translation of our foreign sales, the increase in sales was largely due to the inclusion of the Pfeiffer Group. If exchange rates had been held constant with those of the previous year, and if additional sales from the consolidation of the Pfeiffer Group in 1993 had been excluded, our sales would have increased in total by 10 percent for the quarter and 9 percent for the year to date."
 North American and European operations posted gains in sales and operating profits, added LeCoque, "Dispensing closures in the personal care market continue to exhibit strong volume increases in North America. We also experienced sales growth of pumps in Europe, where we have strengthened our presence as a supplier to the pharmaceutical and fragrance/cosmetics markets," he added.
 The board of directors today declared a quarterly dividend of $.05 per share, payable Nov. 30, 1993, to shareholders of record as of Nov. 9, 1993.
 AptarGroup, Inc. manufactures, designs and sells pumps, aerosol valves and closures for personal care, fragrance/cosmetic, pharmaceutical, household and food products. AptarGroup is headquartered in Crystal Lake, with manufacturing facilities primarily in the United States and Europe.
 APTARGROUP, INC.
 Summary of Historical Consolidated Income
 (Dollars in thousands, except per-share data)
 Periods ended Three months Nine months
 Sept. 30 1993 1992 1993 1992
 Net Sales $105,037 $ 93,159 $308,107 $276,845
 Operating income 10,452 9,354 33,775 29,741
 Pre-tax Income 8,592 7,943 28,200 24,922
 Prov. for inc. taxes 3,493 3,044 10,934 9,189
 Income before effect of
 change in accounting
 principle 5,099 4,899 17,266 15,733
 Cumulative effect of
 change in accounting
 for income taxes -- -- 1,400 --
 Net Income 5,099 4,899 18,666 15,733
 Net Income Per Share of
 Common Stock (based on
 16,079,266 shares of
 Common Stock outstanding)
 Income before cumulative
 effect of change in
 accounting for income
 taxes $.32 (A) $1.07 (A)
 Cumulative effect of
 change in accounting for
 income taxes -- -- $.09 --
 Net income $.32 (A) $1.16 (A)
 (A) -- Net income per share for 1992 has been omitted since the company had no capital stock publicly outstanding in 1992.
 Summary of Pro Forma (B) Consolidated Income
 (Dollars in thousands, except per-share data)
 Periods ended Three months Nine months
 Sept. 30 1993 1992 1993 1992
 Net Sales $105,037 $111,967 $328,549 $331,524
 Operating income 10,452 11,491 34,007 32,556
 Pre-tax Income 8,592 8,688 27,474 24,802
 Prov. for income taxes 3,493 3,441 10,695 9,373
 Income Before effect of
 change in accounting
 principle 5,099 5,247 16,779 15,429
 Cumulative effect of
 change in accounting
 for income taxes -- -- 1,400 --
 Net Income 5,099 5,247 18,179 15,429
 Net Income Per Share of
 Common Stock (based on
 16,079,266 shares of
 Common Stock outstanding)
 Income before cumulative
 effect of change in
 accounting for income
 taxes $.32 $.33 $1.04 $.96
 Cumulative effect of
 change in accounting for
 income taxes -- -- $.09 --
 Net income $.32 $.33 $1.13 $.96
 (B) -- Amounts reported are as if the Pfeiffer Group and minority interest acquisitions had occurred at the beginning of each year.
 -0- 10/28/93
 /CONTACT: Steve Hagge of AptarGroup, 815-477-0424, or Lynda Erf of Edelman Worldwide, 312-280-2196, for AptarGroup/
 (ATR)


CO: AptarGroup, Inc. ST: Illinois IN: SU: ERN DIV

CK -- NY088 -- 7950 10/28/93 12:59 EDT
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Date:Oct 28, 1993
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