AptarGroup, Inc. (NYSE:ATR) reported third quarter results, announced the completion of an acquisition in South America, and declared a quarterly cash dividend of $.15 per share.
Third Quarter 2009 Summary
* Consolidated sales decreased 11% from the prior year level and decreased 7% excluding currency effects and acquisitions
* Operating income reached $52.9 million despite challenging conditions, a decline of 12% from the prior year, of which 4% was due to a charge of $2.6 million for the previously announced facilities consolidation and severance program
* Certain regions and markets stabilized in the third quarter leading to improved sales and profits over the second quarter
* South American acquisition was completed
* Strong balance sheet was maintained
For the quarter ended September 30, 2009, sales decreased 11% to $473.7 million from $532.2 million a year ago. Product and custom tooling sales declined 7%, changes in exchange rates accounted for 5% of the decline and acquisitions added 1% to sales.
CASH DIVIDEND AND SHARE REPURCHASE PROGRAM
The Board of Directors declared a quarterly dividend of $.15 per share, payable November 18, 2009 to shareholders of record as of October 28, 2009.
During the quarter, the Company repurchased approximately 100,000 shares of common stock for approximately $3.5 million leaving approximately 4.2 million shares authorized for repurchase at the end of the third quarter.
Tags: AptarGroup, dividend, Shares
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