Expect full year 2009 diluted earnings per share to exceed 2008
Ball Corporation, reported second quarter net earnings of $133.3m, or $1.40 cents per diluted share, on sales of $1.93billion, compared to earnings of $100m, or $1.02 cents per diluted share, on sales of $2.08 billion for the same period in the previous year.
For the first six months of 2009, Ball’s earnings were $202.8m, or $2.14 per diluted share, on sales of $3.51 billion. First half 2008 results were earnings of $183.8 million, or $1.87 per diluted share, on sales of $3.82 billion.
Second quarter 2009 results include an after-tax gain of $30.7m, or 32 cents per diluted share, for the sale of a portion of the company’s interest in DigitalGlobe, and an after-tax charge of $11.6m, or 12 cents per diluted share, primarily for the closure of two plastic packaging plants and for transaction costs relating to the acquisition of certain of Anheuser-Busch InBev’s metal beverage packaging assets.
R. David Hoover, chairman, president and chief executive officer of Ball, said: “Our results reflect the actions we have taken over the past 18 months to better align our supply with demand, a seasonal increase in volumes and better plant performance throughout our operations.
“Improved comparable operating margins in our North American packaging businesses in the second quarter were the result of lower costs due to plant rationalization programs and better pricing in certain packaging segments.”