West income, sales up in second quarter

ERJ staff report (R&PN)

Lionville, Pennsylvania -- Medical components manufacturer West Pharmaceutical Services Inc. reported net sales of $281.8 million in the second quarter, up 8 percent from the like period of 2009.

The company also posted $21.7 million in net earnings, up 10.2 percent from last year.

The results were in line with its earlier guidance, despite the adverse impact of currency on its international businesses, said Donald Morel, West chairman and CEO. Sales growth was particularly strong in higher-value Pharmaceutical Packaging Systems product lines, and sales in Pharmaceutical Delivery Systems were also up on a "same store" basis, with additional sales gains generated by recently acquired businesses, he said.

Through six months, the Lionville-based firm had net sales of $556.5 million, a 10.5-percent increase from the first half of 2009, and net income of 41.6 million, up 18.5 percent from last year.

Looking forward, West expects its year-end revenues to be between $1.08 billion and $1.11 billion.

From Rubber & Plastics News (A Crain publication)

Press release from West Pharma