Silgan Holdings Q3 Profit Slightly Decreases - Quick Facts

(RTTNews) - Silgan Holdings Inc. (SLGN), a supplier of rigid packaging for shelf-stable food and other consumer goods products, reported third-quarter net income of $77.2 million, or $1.21 per share, compared to $78.7 million, or $1.13 per share, last year. Adjusted net income per share was $1.23 for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.32 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.17 billion, an increase of 2.5 percent from $1.14 billion, last year. Analysts expected revenue of $1.19 billion for the quarter.

The company revised its estimate of adjusted net income per share for the full year of 2013 to a range of $2.75 to $2.85 from a range of $3.00 to $3.15. The company said the revision is principally due to its performance to date, lower than expected volumes in the metal and plastic container businesses in the fourth quarter of 2013 and the impact of additional interest expense from the September 2013 issuance of $300 million of 51/2% Senior Notes. Analysts expect the company to report fiscal 2013 profit per share of $3.06.

The company estimates adjusted net income per share for the fourth quarter of 2013 in the range of $0.44 to $0.54. Analysts expect the company to report fourth-quarter profit per share of $0.67.