Reported net earnings of $11.9m and total sales of $125.3m for the second quarter
Winpak, a manufacturer and distributor of packaging materials and related packaging machines, has posted an increase in its net earnings for the second quarter of 2009.
The company posted net earnings of $11.9m for the second quarter of 2009, an increase of 64.5% as compared to $7.2m posted for the same period in 2008.
The company’s sales for the second quarter 2009 totalled $125.3m, 1.8% lower as compared to $2.3m sales posted in the second quarter of the prior year. For the first six months of 2009, the company’s sales decreased by 2.3% compared to the same period of 2008.
The company’s gross profit margins increased to 31.7% of sales in the second quarter of 2009 from 24.4% of sales posted for the same period in 2008.
The company’s products are used primarily for the packaging of perishable foods, beverages and in health care applications. The company operates primarily in Canada and the US.