ERJ staff report (R&PN)
Lionville, Philadelphia-- West Pharmaceutical Services Inc. posted net income of $13.3 million on net sales of $256.2 million in the third quarter, both improvements on the like period of 2007.
The medical components manufacturer reported earnings of $12.2 million on sales of $242.7 million in the third quarter last year.
Donald Morel, West CEO and chairman, said the company delivered solid third-quarter results in the despite volatile commodity, currency and financial markets, and the seasonality that makes this the third quarter the least predictable.
Through nine months of 2008, Lionville-based West posted net profits of $687.3 million on net sales of $806.3 million, compared with the $64.7 million net income on sales of $764 million posted last year.
Sales for the full year of 2008 are expected to reach $1.06 billion, down from $1.08 billion in previous projections, primarily because of current translation and to reflect current results, West said.
From Rubber & Plastics Newss (A Crain publication)