Newspaper article Evansville Courier & Press (2007-Current)

Sales Slide, but Berry Earnings Up

Newspaper article Evansville Courier & Press (2007-Current)

Sales Slide, but Berry Earnings Up

Article excerpt

Berry Plastics saw its earnings improve last quarter, even though sales of its products declined. The Evansville-based manufacturer produces a range of products including consumer packaging, drink cups, closures, tapes and films.

During the fiscal quarter that ended June 29, Berry posted net income of $40 million, or 35 cents per share, as compared to net income of $9 million (11 cents per share) during the same period last year.

The quarter that ended June 29 was Berry's third quarter. For its current fiscal year to date, Berry has posted net income of $31 million (26 cents per share), as compared to a loss of $20 million (24 cents per share) during the same period in 2012. Sales, however, declined last quarter.

Net sales totaled $1.2 million, down 2 percent from the same period last year.

Most of the sales decline, said Chairman and CEO Jon Rich, came from Berry's thermoform drink cups - disposable plastic cups used by convenience stores and fast-food restaurants to serve soda, iced tea and the like. …

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