West posts sales, earnings increases in second quarter

LIONVILLE, Pa. (July 25)—West Pharmaceutical Services Inc. continued a strong recovery from the fire that destroyed its Kinston, N.C., plant in January, posting positive sales and earnings figures for the second quarter. The Lionville-based medical components manufacturer posted net earnings of $6.9 million on sales of $126.4 million during the period, compared to a $5.3 million profit on sales of $106.5 million in 2002. The company expects to boost sales 7 to 9 percent for the full year and 6 to 8 percent for the remainder of 2003. West's results included pretax expenses of $3.7 million associated with the Jan. 29 fire and explosion in Kinston, which killed six company employees and injured many others. Combined with costs incurred—primarily uninsured legal, investigational and environmental response costs—during the first quarter, the company has reported $8.8 million in expenses related to the accident.