Silgan Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 28, 2013
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Silgan Holdings Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net sales of $858.8 million compared to $835.9 million for the same period a year ago. Income from operations was $58.7 million compared to $70.0 million for the same period a year ago. Income before income taxes was $43.3 million compared to $53.7 million for the same period a year ago. Net income was $29.4 million or $0.42 per basic and diluted share compared to $37.1 million or $0.53 per basic and diluted share for the same period a year ago. Adjusted net income per diluted share was $0.47 compared to $0.56 for the same period a year ago.
For the full year, the company reported net sales of $3,588.3 million compared to $3,509.2 million for the same period a year ago. Income from operations was $325.5 million compared to $354.1 million for the same period a year ago. Income before income taxes was $223.8 million compared to $290.1 million for the same period a year ago. Net income was $151.3 million or $2.17 per diluted share compared to $193.2 million or $2.75 per diluted share for the same period a year ago. Net cash provided by operating activities was $351.7 million or $5.03 per diluted share compared to $359.6 million or $5.11 per diluted share for the same period a year ago. Capital expenditures were $119.2 million compared to $173.0 million for the same period a year ago. Adjusted net income per diluted share was $2.70 compared to $2.63 for the same period a year ago. Free cash flow was $303.7 million or $4.35 per diluted share compared to $152.9 million or $2.17 per diluted share for the same period a year ago.
Silgan Holdings Inc. is a manufacturer of sustainable rigid packaging solutions for essential consumer goods products. The Companyâs segments include dispensing and specialty closures, metal containers and custom containers. The dispensing and specialty closures segment manufactures and sells dispensing systems and specialty closures for fragrance and beauty, food, beverage, personal and health care, home care and lawn and garden products. The metal containers segment is engaged in the manufacture and sale of steel and aluminum containers for pet and human food and general line products. The custom containers segment manufactures and sells custom designed plastic containers for pet and human food, consumer health and pharmaceutical, personal care, home care, lawn and garden and automotive products. Its products are used for a variety of end markets, and it operates over 107 manufacturing plants in North America, Europe, Asia and South America.