West Pharmaceutical´s earnings drop

LIONVILLE, Pa. (Feb. 28)—West Pharmaceutical Services Inc. recorded a loss of $13.1 million in the fourth quarter ended Dec. 31 compared to net income of $10.2 million in the same period in 1999. Sales slipped to $102.5 million in the quarter from $115.4 million the previous year. West Pharmaceutical´s net income for 2000 plummeted to $1.6 million from $38.7 million in 1999 while sales fell to $430.1 million from $469.1 million the prior year. A number of factors contributed to the drop, the company said, including fourth-quarter restructuring charges. Chairman and CEO William G. Little called 2000 "the company´s most difficult year in recent history." But he said, "we firmly believe the worst is behind us" and predicted 2001 will be a good year for the firm.