Sealed Air Corp. (SEE) reported that its third-quarter net income available to shareholders increased to $60.6 million or $0.34 per share from $9.2 million or $0.05 per share last year.
Adjusted earnings per share increased to $0.38 from $0.28 last year.
On average, 11 analysts polled by Thomson Reuters expected the company to report profit of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Total net sales decreased to $1.08 billion from $1.22 billion prior year. Analysts expected revenue of $1.08 billion for the quarter.
The company now expects its full year 2009 earnings per share to be in the range of $1.27-$1.35 as compared to previous guidance of $1.17-$1.37. Excluding items, full year 2009 earnings per share guidance is expected to be in the range of $1.37-$1.45 as compared to previous guidance of $1.25-$1.45.
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