AptarGroup 4Q sales down 1 percent

CRYSTAL LAKE - AptarGroup Inc. said fourth quarter 2016 sales decreased 1 percent led by sluggish performance from the company's beauty and home segment.

Sales for the quarter were $539 million, the company reported. down from $547 million a year ago. Excluding the negative impact from changes in currency exchange rates and the positive impact from acquisitions, core sales decreased by 2 percent. Earnings per share for the period were 77 cents, compared to 68 cents a year ago.

AptarGroup CEO Stephen J. Hagge, who retired at the end of the quarter, said challenges in the home and health market led to the drop in sales there. However, he said the company's Pharma and Food and Beverage segments performed well with growth in sales.

"Despite some of the challenges we faced, we expanded margins in two of our three segments over the prior year, achieved an operating income margin of approximately 12 percent," Hagge said.

For the year, sales increased 1 percent to $2.33 billion from $2.32 billion a year ago. Earnings per share were $3.17 compared to $3.09 a year ago.

Stephan B. Tanda, who succeeded Hagge as CEO on Jan. 1, said earnings per share for the first quarter of 2017 is expected to be in the range of 72 cents to 77 cents, compared to $0.67 per share reported in the prior year.

"We will face some degree of uncertainty as various political environments shift and settle, but we will remain focused on our customers and end consumers in order to drive new technologies to market," Tanda said.