Jul 24, 2008 7:53 am US/Mountain
Packaging Maker Ball 2Q Profit Slips 5.6 Percent
BROOMFIELD, Colo. (AP) ―
Broomfield-based plastic and metal packaging company Ball Corporation is reporting its second-quarter profit fell 5.6 percent due in part to higher costs.
The company said Thursday that it earned $100 million, or $1.02 per share, during the three-month period that ended June 29. That compares with $105.9 million, or $1.03 per share, at the same time a year ago.
Ball posted adjusted earnings per share of $1.10, excluding one-time charges of 8 cents each. That fell two cents a share shy of estimates from analysts surveyed by Thomson Financial.
Sales climbed to $2.08 billion, short of analysts expectations of $2.09 billion.
The cost of sales also increased to $1.74 billion, up from $1.68 billion.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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