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Ball's sales up, earnings down.

Ball's sales up, earnings down

Ball Corp. recently reported a second-quarter sales increase of 10 percent to $337.2 million from $306.1 million in the same period last year. The Muncie, IN company's operating earnings, however, were down 5.5 percent, to $27.6 million from $29.2 million in the second quarter of 1988.

Net income for the quarter was $15 million, or 64 cents per share, an 11.8-percent decline from second-quarter net of $17 million, or 73 cents per share, in the year-earlier period. Ball's operating income "decreased marginally," the company reported, to $44.1 million in the second quarter, 1989, from $45.8 million in the same period last year.

According to Richard M. Ringeon, chairman and chief executive officer, Ball's packaging products--the company's largest operating segment--continued to experience depressed margins in its metal container division.

Separately, Ball directors recently elected Delmont A. Davis president and chief operating officer and William L. Peterson vice chairman and chief financial officer. Davis has most recently been executive vice president, packaging products, for Ball. Peterson has been executive vice president and chief financial officer. His election to the Ball board of directors was in 1983.
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Publication:Modern Brewery Age
Date:Aug 7, 1989
Words:197
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