LIONVILLE, Pa. (April 20)—West Pharmaceutical Services Inc. posted net profits of $7 million, or 46 cents per diluted share, on sales of $133.6 million during the first quarter of 2004, the Lionville-based medical components manufacturer reported April 20.
The results compare favorably with the like period in 2003, when the company posted net earnings of $3.8 million on sales of $117.8 million.
The sales growth for the quarter was directly in line with West's expectations, as was the impact of product mix on gross margin, according to Donald Morel, the company's CEO and chairman. Demand for West's pharmaceutical systems products remains strong in its major geographical markets, he said.
The company expects sales will rise 5 to 7 percent at constant exchange rates, and pro forma earnings per fully diluted share will be in the $2.05 to $2.15 range.