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UPDATE 1-AptarGroup Q3 beats, sees Q4 below Street view
October 20, 2010 / 9:45 PM / in 7 years

UPDATE 1-AptarGroup Q3 beats, sees Q4 below Street view

* Q3 EPS $0.68 vs est $0.67

* Rev $517.5 mln vs est $504.8 mln

* Sees Q4 EPS $0.53-$0.58 vs est $0.62

Oct 20 (Reuters) - AptarGroup Inc (ATR.N), which makes dispensers for consumer products, posted better-than-expected quarterly results, helped by strong growth at its beauty & home and closures segments, but forecast fourth-quarter earnings below market estimates.

AptarGroup expects fourth-quarter earnings of 53-58 cents a share, compared with analyst estimates of 62 cents a share.

For the third quarter, AptarGroup reported net income of $47 million, or 68 cents a share, compared with $33.5 million, or 48 cents a share, a year ago.

Sales of the company, which serves the personal care, cosmetics, pharmaceutical, and food & beverage markets, rose 9 percent to $517.5 million.

Beauty & home and the closure segments saw a growth of 11 percent each, while the pharma segment grew 2 percent.

Analysts on average were expecting earnings of 67 cents a share on revenue of $504.8 million, according to Thomson Reuters I/B/E/S.

Shares of the Crystal Lake, Illinois-based company closed at $47.39 after touching a year high Wednesday on the New York Stock Exchange.

They have risen about 18 percent since reporting its last quarterly results. (Reporting by Megha Mandavia in Bangalore; Editing by Don Sebastian)

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