LIONVILLE, Pa. (Feb. 5)—West Pharmaceuticals Services Inc. has projected lowered quarterly and year-end earnings for the period ended Dec. 31. Based on preliminary data, West expects fourth-quarter 2000 revenues of $103 million, compared to $115.4 million in the same three months of 1999. Net income for the period is expected to be 17 cents per share—excluding a previously announced $1.11 cent-per-share net restructuring charge—compared with 69 cents last year. For the year, the company expects revenues of $430 million, compared to $469.1 million in 1999. Net income is expected to be $1.08 per share, compared to $2.44 per share in 1999. West cites a softening market, project delays and reduced customer inventory among the factors in the earnings slip. But measures including personnel reductions and several planned U.S. plant and office closings will rebound company efficiency in 2001, said West Chairman and CEO William G. Little.
West expects fallen earnings
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].