DOW JONES NEWSWIRES
West Pharmaceutical Services Inc.'s (NYSE:WST) (WST) first-quarter net income decreased 1.1% to $26.2 million, or 76 cents a share, from $26.5 million, or 77 cents, a year ago, due in part to sales declines in its Tech Group segment.
Results for the latest period included a net gain of of $1.3 million. which included restructuring charges, a contract settlement gain and a discrete foreign tax benefit.
Adjusted earnings were 72 cents a share.
On average, analysts polled by Thomson Reuters expected earnings of 69 cents a share. Analysts' estimates usually exclude items.
The Lionville, Pa., maker of packaging components for pharmaceutical, healthcare and consumer products said net sales increased 5.1% to $270.7 million from $257.6 million the previous year.
For the full year, the company expects adjusted earnings per share of $2.40 to $2.50 on sales of about $1.08 billion.
-Amanda Harris Falls; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires 05-01-08 0810 Copyright (c) 2008 Dow Jones & Company, Inc.
