LIONVILLE, Pa. (Feb. 14)—West Pharmaceutical Services Inc. recorded an 11-percent boost in sales for the quarter ended Dec. 31 but, primarily because of restructuring charges, had a net loss of $19.6 million in the 2001 period compared with a loss of $13.1 million last year. Sales rose to $100.6 million from $90.5 million during the quarter. Before taking a $25.2 million loss on the disposal of discontinued operations, West had net income of $5.8 million in the 2001 period. For the year, West had net loss of $5.2 million compared to net income of $1.6 million in 2000. Sales for the 12 months came in at $396.9 million up from $378.6 million the prior year. Despite the earnings slide, Chairman and CEO William G. Little said he's encouraged with the fourth-quarter results. He said the recent consolidation of the company's businesses into two divisions, along with the sale of its contract manufacturing and packaging units, should pay dividends in 2002.
West has net loss despite sales boost
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