AptarGroup completes acquisition of New Jersey's Stelmi Group, expanding its portfolio of solutions for pharmaceutical industry; company lowers Q2 EPS guidance to US$0.60-US$0.62/share
CRYSTAL LAKE, Illinois
July 9, 2012
– AptarGroup, Inc. (NYSE: ATR) today announced it completed the acquisition of the Stelmi Group, in early July, after receiving the necessary regulatory approvals. As previously reported, this strategic acquisition expands AptarGroup’s portfolio of solutions that it provides to the pharmaceutical industry.
AptarGroup also updated its guidance on second quarter 2012 earnings per share to reflect acquisition costs related to the Stelmi acquisition, mentioned above. In addition, weaker than anticipated results for the Company’s European operations and recent changes in foreign currency exchange rates are expected to negatively impact second quarter results. AptarGroup currently anticipates second quarter earnings per share to be in the range of $0.60 to $0.62 per share compared to the previously announced guidance of $0.70 to $0.75.
Stephen Hagge, President and Chief Executive Officer commented, “As anticipated, the closing of the Stelmi Group acquisition went smoothly and we have recorded the majority of the costs associated with this transaction in the second quarter. Our updated guidance includes a negative impact of approximately $0.05 per share related to the acquisition which was not included in our original guidance.”
Hagge continued, “In addition, we also experienced weaker sales volumes from our European operations. The U.S. dollar has strengthened considerably compared to the Euro since the end of the first quarter. Our previous guidance was based on foreign currency exchange rates at the end of March and our updated guidance includes a negative impact of approximately $0.02 per share which represents the net impact of changes in foreign currency exchange rates since the end of March.”
AptarGroup intends to answer questions regarding its second quarter results during a conference call on Friday, July 27, 2012 at 8:00 a.m. CDT. AptarGroup plans to report its second quarter results after the close of trading on the New York Stock Exchange on Thursday, July 26, 2012. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page at www.aptar.com. Replay of the conference call can also be accessed on the Investor Relations page of the web site.
AptarGroup, Inc. is a leading global supplier of a broad range of innovative dispensing systems for the personal care, fragrance/cosmetic, pharmaceutical, household and food/beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia and South America. For more information, visit www.aptar.com.