LIONVILLE, Pa. (Oct. 19)—Net sales for medical component manufacturer West Pharmaceutical Services Inc. increased to $135.3 million in the third quarter, up from $120.1 million last year, the company reported Oct. 19.
Net income for the period increased 4.9 percent to $4.3 million.
For the nine-month period of 2004, West posted net sales of $407 million, up 11.7 percent from last year. Net earnings rose 28.3 percent during the period to $19 million, the company reported.
More than 98 percent of the company's sales in 2004 have come via its Pharmaceutical Systems unit. The company is seeking strategic alternatives for its Drug Delivery Systems segment and plans to conclude a review of the business by year's end.
West's third-quarter sales growth was terrific, especially considering the challenging business environment—including the disruption of its Florida operations by hurricanes—the usual summer shutdown in Europe and the continued transfer of production back to its Kinston, N.C., plant, said Donald E. Morel, company chairman and CEO.
The firm reopened Kinston operations this year after a fire and explosion destroyed its facility in January 2003. Production following the loss was moved to other West locations.
West expects fourth-quarter revenue growth of 8-10 percent over 2003.