UPDATE 1-AptarGroup Q4 profit rises, says Q1 earnings to improve
* Q4 shr $0.52 vs. yr-ago shr $0.46
* Sees Q1 shr $0.48-$0.53
* Says realigning business
Feb 10 (Reuters) - Cosmetics and perfume dispenser maker AptarGroup Inc (ATR.N) posted a 14 percent rise in quarterly profit, helped by strong sales in its segments, and forecast first-quarter earnings above market expectations.
The company posted fourth-quarter earnings of $36.1 million, or 52 cents a share, compared with $31.7 million, or 46 cents a share, a year earlier.
Revenue rose 9 percent to $495.6 million.
Analysts on average were expecting earnings of 47 cents a share, on revenue of $466.6 million, according to Thomson Reuters I/B/E/S.
The company also said it is realigning its businesses and expects to be fully operating under the new structure beginning in 2011.
"Once the realignment is complete, we will have a simplified customer-facing structure with three focused brands," AptarGroup said in a statement.
AptarGroup also forecast first-quarter earnings of 48 cents to 53 cents a share.
Shares of the Crystal Lake, Illinois-based company closed at $35.08 Wednesday on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore; Editing by Gopakumar Warrier)
- Lost airliner was diverted deliberately: Malaysian PM |
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Malaysia PM says lost plane's movements indicate a deliberate act
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data