LIONVILLE, Pa.(May 2)—West Pharmaceutical Services Inc.´s net income tumbled 46 percent to $5.1 million in the first quarter ended March 31 from $9.5 million in 1999´s period. Sales slipped 6 percent to $107.7 million from $114.2 million. A poor showing by the firm´s Contract Services segment and fluctuating foreign exchange rates were largely responsible for the reduction, the company said. However, Chairman and CEO William G. Little said he is encouraged by increased order rates and predicted the Contract Services unit will rebound in the second half.
West Pharmaceutical´s sales, earnings fall
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