Bemis Company, Inc. (BMS) reported net income attributable to Bemis of $35.84 million or $0.33 per share for the third quarter, compared with $44.26 million or $0.43 per share for the same quarter of 2008. Excluding the effect of acquisition related charges and financing, and a gain on sale of an asset, diluted earnings per share would have been $0.48 for the third quarter of 2009.
On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share. Analysts' estimates typically exclude special items.
Net sales declined to $898.93 million from $984.26 million in the prior year quarter. Seven analysts estimated revenues of $908.99 million.
Moving ahead, management expects fourth quarter 2009 diluted earnings per share to be in a range of $0.40 to $0.45 per share.
Analysts expect the company to earn $0.34 per share, on revenues of $869.06 million.
Management is also revising its guidance upward for the full year 2009 from $1.68 to $1.75 per share to $1.81 to $1.86 per share, reflecting the improved operating performance for the total year 2009.
Analysts expect the company to earn $1.65 per share, on revenues of $3.49 billion.
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