Wednesday 02. February 2011
Silgan Announces Full Year 2010 Earnings; Expects Double Digit Earnings Growth in 2011
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of consumer goods packaging products, today reported full year 2010 net income of $144.6 million, or $1.89 per diluted share, as compared to full year 2009 net income of $159.4 million, or $2.07 per diluted share. Results for 2010 included pre-tax rationalization charges of $22.2 million, or $0.19 per diluted share net of tax, a pre-tax loss on early extinguishment of debt of $7.5 million, or $0.07 per diluted share net of tax, and the non-cash impact from the remeasurement of the net assets in Venezuela of $3.2 million, or $0.04 per diluted share net of tax. Results for 2009 included pre-tax rationalization charges of $1.5 million, or $0.01 per diluted share net of tax, and a pre-tax loss on early extinguishment of debt of $1.3 million, or $0.01 per diluted share net of tax. Adjusted net income per diluted share was $2.19 for the full year 2010 and $2.09 for the full year 2009.