AptarGroup Profit Rises

(RTTNews) - AptarGroup Inc. (ATR), a maker of consumer product dispensing systems, Thursday reported fourth-quarter net income of $37 million or $0.54 per share compared with $35 million or $0.52 per share last year.

Results for the recent quarter included European restructuring charges of $0.05 per share and negative tax impact of $0.10 per share related to French regulations.

Excluding items, adjusted earnings for the quarter were $0.69 per share compared with $0.57 per share a year ago.

Revenues for the quarter were up 2% at $637 million compared with $571 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.65 per share on revenues of $602.4 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter, the company expects earnings of $0.65 to $0.70 per share compared witho $0.64 per share reported in the prior year excluding costs associated with the restructuring plan (about $0.05 per share). Analysts expect earnings of $0.72 per share.

The company continues to see challenging currency environment, especially in Latin America and Southeast Asia, and faces higher tax rates.