By: Jim Johnson
January 30, 2014
Berry Plastics Group Inc. swung to a profit on higher revenue during the company’s fiscal year first quarter.
The Evansville, Ind.-based company earned $6 million, or 5 cents per diluted share, on sales of $1.14 billion for the quarter ended Dec. 28. That compares to a loss of $10 million, or 9 cents per diluted share, on sales of $1.07 billion for the previous first quarter.
“Despite the continued pressure from increasing raw material costs couple with subdued consumer and customer demand, we finished the quarter in line with our expectations,” CEO Jon Rich said in a statement.