Bemis Q4 Earnings Slips, Expects FY16 Adj. EPS Below Estimates

(RTTNews) - Bemis Co. Inc. (BMS) Thursday reported a declined in fourth quarter net income to $56.8 million from $59.1 million a year ago. On a per share basis, earnings decreased to $0.58 from $0.59 a year ago.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.59 per share. Analysts estimates usually exclude special items.

Net sales declined to $982.7 million from $1.052 billion a year ago. Wall Street was looking for $979.43 million in the previous year.

For the full year 2016, the company expects adjusted net income in a range of $2.68 to $2.63. The company said the outlook include currency translation headwinds of approximately $0.10, compared to the prior year. Analysts expects $2.74 per share on revenue of $4.11 billion.