UPDATE 1-Sonoco raises full-year profit forecast
* Sees FY adj EPS $2.34-$2.44 vs prior view $2.32-$2.42
* Q1 adj shr $0.52 vs est $0.48
* Q1 rev up 8.5 pct
April 19 (Reuters) - Sonoco Products Co posted better-than-expected quarterly results as an acquisition and higher selling prices offset a fall in volumes, and the plastic packaging maker raised its full-year profit forecast.
The company said it now expects to report full-year adjusted earnings of $2.34 to $2.44 a share, up from its prior forecast of $2.32 to $2.42 a share.
Sonoco, which makes consumer and industrial packaging products, also said it expects second-quarter earnings of 55 to 60 cents per share.
First-quarter revenue rose about 9 percent to $1.21 billion, boosted by a $114 million contribution from its acquisition of Tegrant last year.
Net income was $43.1 million, or 42 cents a share, compared with $57.4 million, or 56 cents a share a year ago.
Excluding items, the company earned 52 cents a share.
Analysts on an average had expected earnings of 48 cents a share, before special items, on revenue of $1.18 billion, according to Thomson Reuters I/B/E/S.
Shares of the Hartsville, South Carolina-based company closed at $32.46 on Wednesday on the New York Stock Exchange.
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