Greif Inc. (GEF) reported GAAP net income of $79 million or $1.35 per class A share for the fourth quarter, compared to $60 million or $1.03 per class A share in the prior year quarter.
Net income before special items was $90 million or $1.53 per class A share, compared to $75 million or $1.27 per class A share in the fourth quarter of 2008.
Net sales for the fourth quarter declined 23% to $761 million from $982 million in the previous year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.45 per share on revenue of $794.35 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2010, the company expects that Class A earnings per share, before special items, will be in the range of $4.00 to $4.25 per share. Street estimates earnings of $4.21 per share for the year.
For comments and feedback: editorial@rttnews.com