Bemis Co. Inc., in what the company is describing as a strong quarter, saw consistent earnings from continuing operations.
The Neenah, Wis.-based flexible packaging maker earned 58 cents per diluted share during the first quarter ended March 31. That's the same as profit from continuing operations during last year's first quarter.
Overall, the company earned $54.4 million, or 55 cents per diluted share, on sales of $1.04 billion. That compares with earnings of $49.2 million, or 48 cents per diluted share, on sales of $1.1 billion during last year's first quarter.
These numbers factor in a loss of 3 cents per diluted share from discontinued operations for the past quarter and 10 cents per share for discontinued operations during the first quarter of 2014, the company said.
“Sales growth in our target end-markets delivered margin improvements throughout our entire business. Sales mix improvements in our U.S. packaging business were offset by light consumer demand and some customer delays of certain shipments. Global packaging unit volumes were strong in Europe, Asia, and our health care packaging business, offset by lighter unit volumes in Latin America due to continuing tough economic conditions,” CEO William Austen said in a statement.