Company Website: http://www.aptar.com
CRYSTAL LAKE, Ill. -- (Business Wire)

AptarGroup, Inc. (NYSE:ATR) today reported record fourth quarter sales and record annual sales and earnings per share.

Fourth Quarter 2011 Summary

• Sales up 3% to fourth quarter record of $545 million
• Strong sales growth in Pharma and Food + Beverage segments
• Beauty + Home sales and margins affected by softness in the U.S. and Europe
• Effective tax rate rose to 36.2% compared to 30.4% a year ago due to increased French taxes of $1.7 million primarily related to a surtax enacted in December
• Reported earnings per share reached $.57 compared to $.59 a year ago

FOURTH QUARTER RESULTS

For the quarter ended December 31, 2011, reported sales increased 3% to $544.5 million from $530.8 million a year ago. The effect of changes in currency exchange rates was insignificant.

Commenting on the quarter, Stephen J. Hagge, President and CEO, said, “The diversity of the markets and regions we serve once again proved that we can continue to grow in spite of softness in any one particular market or region. Consolidated sales grew on a reported and organic basis by 3%. As we anticipated, it was a challenging quarter for our Beauty + Home segment. We were going up against a strong fourth quarter of 2010 and certain customers remained cautious going into the end of the year particularly in the U.S. and Europe. However, strong results from Latin America and Asia allowed our Beauty + Home segment to achieve sales that were in-line with the prior year. Demand for our patient-friendly drug delivery devices from the prescription drug market drove our Pharma segment’s sales growth of 7%, and demand for innovative dispensing closures from the beverage market was the primary reason behind our Food + Beverage segment’s sales growth of 10%.”

Hagge continued, “Beauty + Home margins were pressured primarily by underutilized overhead resulting from the soft demand in the U.S. and Europe. In spite of this, our consolidated operating income reached a record fourth quarter level, driven by the profitability and sales growth of our Pharma and Food + Beverage segments. Our quarterly effective tax rate increased to 36.2% compared to 30.4% in the fourth quarter of 2010. The effective tax rate increased because of higher taxes in France of approximately $1.7 million that were primarily due to a retroactive surtax that was enacted by the French government in late December. Reflecting the impact of the higher tax rate, our reported diluted earnings per share reached $.57 per share compared to $.59 per share a year ago.”

ANNUAL RESULTS

Hagge stated, “I am pleased to report that 2011 was a record year for AptarGroup. Each segment reported sales growth over the prior year. We entered new market categories, made investments in our future, expanded our global presence, and ended the year with a strong balance sheet. Sales in 2011 increased 13% to a record $2.34 billion from $2.08 billion a year ago. Changes in exchange rates contributed approximately 4% to the sales growth. Reported diluted earnings per share increased 7% to a record $2.65 per share compared to $2.48 per share a year ago.

Also during the year, we were able to return value to our shareholders through corporate actions. AptarGroup spent approximately $102.6 million to repurchase approximately 2.1 million shares of common stock in 2011, leaving approximately 3.6 million shares authorized for repurchase at the end of the year. In 2011, a total of $53.3 million was paid to stockholders in the form of dividends, or $.80 per share. This reflects the 22% increase in the quarterly dividend approved by the Board in July of 2011.”

OUTLOOK

Hagge commented, “As we look to the first quarter of 2012, we are up against a difficult comparison to the prior year due to our strong results and a negative currency exchange rate environment. We also expect that certain customers will remain cautious into the first quarter. However, we are encouraged by the activity of 2012 customer projects and by our long-term growth prospects. Currently we anticipate that our first quarter diluted earnings per share will be in the range of $.60 to $.65 per share compared to $.64 per share reported last year.”

OPEN CONFERENCE CALL

There will be a conference call on Friday, February 10, 2012 at 8:00 a.m. CST to discuss the Company’s fourth quarter and annual results for 2011. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page at www.aptar.com. Replay of the conference call can also be accessed on the Investor Relations page of the website.

AptarGroup, Inc. is a leading global supplier of a broad range of innovative dispensing systems for the fragrance/cosmetic, personal care, pharmaceutical, household and food/beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia and South America. For more information, visit www.aptar.com.

This press release contains forward-looking statements.Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on management’s beliefs as well as assumptions made by and information currently available to management.Accordingly, AptarGroup’s actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist including, but not limited to, economic, environmental or political conditions in the various markets and countries in which AptarGroup operates, changes in customer and/or consumer spending levels; financial conditions of customers and suppliers; fluctuations in the cost of raw materials, components and other input costs; the Company’s ability to increase prices, contain costs and improve productivity; changes in capital availability or cost, including interest rate fluctuations; the competitive marketplace; fiscal and monetary policy; changes in foreign currency exchange rates; direct or indirect consequences of acts of war or terrorism; and labor relations.For additional information on these and other risks and uncertainties, please see AptarGroup’s filings with the Securities and Exchange Commission, including its Form 10-K’s and Form 10-Q’s. Readers are cautioned not to place undue reliance on forward-looking statements.AptarGroup undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

AptarGroup, Inc.
Matthew DellaMaria
815-477-0424

Source: AptarGroup, Inc.