Silgan Holdings Q1 Profit Rises; Confirms 2014 Adj. EPS Estimate

(RTTNews) - Silgan Holdings Inc. (SLGN) reported first-quarter net income of $31.5 million, or $0.49 per share, compared to $25.4 million, or $0.38 per share, previous year. Adjusted net income per share was $0.53, for the first quarter of 2014.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.51 for the quarter. Analysts' estimates typically exclude special items. Net sales were $855.8 million, an increase of 7.6 percent, as compared to $795.7 million in 2013. The company said the increase was the result of an increase in net sales across all businesses. Analysts expected revenue of $850.90 million, for the quarter.

The company confirmed its estimate of adjusted net income per share for the full year of 2014 in the range of $3.10 to $3.30. Analysts expect the company to report full year profit per share of $3.15.

The company estimates adjusted net income per share for the second quarter of 2014, in the range of $0.60 to $0.70. Analysts expect the company to report second-quarter profit per share of $0.69.