Monday, Crown Holdings Inc. (CCK) reported fourth-quarter net income of $81 million or $0.50 per share, compared to a loss of $14 million or $0.09 per share in the same quarter last year.
Net income before certain items, increased 25.7% to $44 million or $0.27 per share from $35 million or $0.22 per share in the year ago quarter.
On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased to $1.92 billion from $1.88 billion in the comparable quarter last year. The increase in sales primarily reflected favorable foreign currency translation of $116 million which was largely offset by the pass-through of lower aluminum costs. Analysts expected the company to report revenue of $1.96 billion for the quarter.
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