LIONVILLE, Pa. (Jan. 11) — Medical components manufacturer West Pharmaceutical Services Inc. has updated its expected 2006 sales and earnings per share for the 2006 fourth quarter and year-end.
The company now expects to report sales for the year of about $913 million, West said in a Jan. 10 news release. Earnings per diluted share from continuing operations are expected to be between 39 and 43 cents for the fourth quarter, and between $1.90 and $1.94 for the full year, excluding separate charges.
"Fourth quarter sales were slightly ahead of our earlier outlook and should yield earnings per share consistent with or just ahead of those expectations," said Donald E. Morel, Jr., West chairman and CEO. "While we are awaiting the completion of the analyses of last year´s record results, management is very much focused on executing our operating and expansion plans for 2007, which we expect will be another year of strong sales and earnings growth."
The expected annual results exclude an 11 cents-per-share first quarter charge for the cost of the early retirement of debt, net of an unrelated tax benefit. The results do include the 3-cent net adverse impact — reported in the third quarter — of costs associated with an impairment charge; a change in tax reserves; and an affiliated company´s asset-related charge, West said.
The firm will report final fourth quarter and full year 2006 financial results on Feb. 20, at which time management will discuss the business and financial outlook for 2007.