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APTARGROUP INC. REPORTS INCREASE IN SECOND QUARTER EARNINGS AND DECLARES DIVIDEND

 CRYSTAL LAKE, Ill., July 28 /PRNewswire/ -- AptarGroup, Inc. (NYSE: ATR) today reported net income for the second quarter ended June 30, 1993 of $6.1 million, or $0.38 per share, an increase of 10.5 percent when compared to the prior year second quarter results of $5.5 million. Sales for the second quarter 1993 were $107.9 million as compared to $92.1 million for 1992, an increase of 17.1 percent.
 First half 1993 net income was favorably impacted by a one-time adjustment (recorded in the first quarter) related to income taxes of $1.4 million as a result of the company's adoption of FAS109. Net income for the first six months ended June 30, 1993, was $12.2 million, or $0.76 per share before the accounting change, an increase of 12.3 percent when compared to the prior year first half results of $10.8 million. Net income after the accounting change was $13.6 million, an increase of 25.2 percent from the prior year's level. Net sales for the first six months of 1993 increased 10.6 percent to $203.1 million compared to $183.7 million for the same period one year ago.
 On April 22, the tax-free spin-off of AptarGroup (formerly Seaquist Group) from Pittway Corp. was completed. Immediately after the spin- off, 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 results since the acquisition date. The inclusion of the Pfeiffer Group represented $11.0 million of the increase in sales for the quarter and the first six months.
 On a pro forma basis, assuming the Pfeiffer Group and the minority interest acquisitions, discussed above, had occurred at the beginning of each year, income for the second quarter of 1993 would have increased by 16.9 percent, to $5.9 million, or $0.37 per share, from $5.1 million or $0.32 per share for the same period a year ago. Pro forma sales for the second quarter would have totaled $112.4 million, up 1.8 percent from $110.4 million in the prior year.
 For the first six months of 1993, pro forma net income before the accounting change would have been up 14.7 percent to $11.7 million compared to $10.2 million for the 1992 period, and after the accounting change, would have increased by 28.5 percent to $13.1 million. Pro forma sales for the same period would have increased 1.8 percent to $223.5 million compared to $219.6 million for the first six months of 1992.
 Commenting on the second quarter results, Ervin J. LeCoque, chairman and chief executive officer, said "We continue to realize an increase in sales, despite the fact that the European economy is very weak and the dollar has strengthened in relation to foreign currencies. Our increase in sales is a result of further penetration of the markets we serve and the value we add to our customers' products."
 North American and European operations posted gains in sales and operating profits, while European sales were up primarily due to the acquisition of the Pfeiffer Group.
 "Dispensing closures and personal care pumps continue to exhibit strong increases in volume in North America," added LeCoque. "Although European closure sales were weak, we saw an increase in sales of aerosol metering valves and pumps for pharmaceutical applications. Our pumps for the cosmetic industry also continue to be a strong area of sales growth for us. In addition, the operating profit for all major operations benefited from the success of cost control efforts."
 The board of directors today declared a quarterly dividend of $0.05 per share, payable Aug. 30, 1993 to shareholders of record as of Aug. 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, Ill., with manufacturing facilities primarily in the United States and Europe.
 APTARGROUP, INC.
 Summary of "Historical" Consolidated Income
 Periods ended June 30 Three Months Six Months
 1993 1992 1993 1992
 Net sales $107,860 $92,104 $203,070 $183,686
 Operating income 11,849 10,511 23,323 20,387
 Pre-tax income 9,834 8,670 19,608 16,979
 Provision for income taxes 3,703 3,121 7,441 6,145
 Income before effect of
 change in accounting
 principle 6,131 5,549 12,167 10,834
 Cumulative effect of
 change in accounting
 for income taxes -- -- 1,400 --
 Net income 6,131 5,549 13,567 10,834
 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 $.38 (a) $.76 (a)
 Cumulative effect of change
 in accounting for income taxes -- -- $.08 --
 Net income $.38 (a) $.84 (a)
 NOTE:(a) Net income per share for 1992 has been omitted since the company had no capital stock publicly outstanding in 1992.
 APTARGROUP, INC.
 Summary of "Pro Forma" Consolidated Income
 Periods ended June 30 Three Months Six Months
 1993 1992 1993 1992
 Net sales $112,431 $110,426 $223,512 $219,557
 Operating income 10,839 10,510 23,555 21,065
 Pre-tax income 8,973 8,246 18,882 16,114
 Provision for income taxes 3,036 3,169 7,202 5,932
 Income before effect of
 change in accounting
 principle 5,937 5,077 11,680 10,182
 Cumulative effect of
 change in accounting
 for income taxes -- -- 1,400 --
 Net income 5,937 5,077 13,080 10,182
 Pro Forma 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 $.37 $.32 $.73 $.63
 Cumulative effect of change
 in accounting for income taxes -- -- $.08 --
 Net income $.37 $.32 $.81 $.63
 NOTE: (a) Amounts reported are as if the Pfeiffer Group and minority interest acquisitions had occurred at the beginning of each year.
 -0- 7/28/93
 /CONTACT: Steve Hagge of AptarGroup, Inc., 815-477-0424, or Doreen Lubeck of Edelman Worldwide, 312-280-2196, for AptarGroup, Inc./
 (ATR)


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

TM -- NY110 -- 6938 07/28/93 16:54 EDT
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Date:Jul 28, 1993
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