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UPDATE 1-AptarGroup Q1 beats Street, sees Q2 EPS above estimates
April 15, 2010 / 9:42 PM / 7 years ago

UPDATE 1-AptarGroup Q1 beats Street, sees Q2 EPS above estimates

* Q1 EPS $0.56 vs est $0.51

* Revenue up 17 pct

* Sees Q2 EPS $0.60-$0.65 vs est $0.55

April 15 (Reuters) - Cosmetics and perfume-dispenser maker AptarGroup Inc (ATR.N) posted quarterly results that beat market expectations, helped by strong demand in the fragrance and personal care segments, and forecast second-quarter earnings above estimates.

The company, which also serves the pharmaceutical and food and beverage markets, expects second-quarter earnings of 60 cents to 65 cents a share.

Analysts on average were expecting earnings of 55 cents a share, according to Thomson Reuters I/B/E/S.

“We presently expect demand to remain strong from those markets that were most seriously affected by the economic downturn including the fragrance/cosmetic and personal care markets,” the company said in a statement.

For the first quarter, the company reported net income attributable to AptarGroup of $39.0 million, or 56 cents a share, compared with $26.7 million, or 38 cents a share, a year ago.

Revenue jumped 17 percent to $505.5 million, with sales from the beauty and home segment increasing 24 percent to $263.4 million.

Analysts were expecting the company to earn 51 cents a share, before special items, on revenue of $482.8 million.

Shares of the Crystal Lake, Illinois-based company closed at $42.35 Thursday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Anne Pallivathuckal)

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