West reports record year-end, fourth-quarter sales

Lionville, Pennsylvania -- Medical components manufacturer West Pharmaceutical Services Inc. posted record sales in the fourth quarter and full year in 2005, the company announced Feb. 21.

Yearlong sales from continuing operations were $699.7 million -- including $106.6 million from businesses acquired in 2005, compared to $541.6 million in 2004. Net income from continuing operations for the year was $45.2 million.

West's sales from continuing operations in the fourth quarter were $195.6 million, compared to $142.0 million a year earlier. About $46.1 million was attributed to businesses acquired in 2005.

Net income from continuing operations in the quarter was $12.9 million.

West acquired Monarch Laboratories in February 2005, and Medimop Medical Projects in August 2005. The two businesses are included in the company's Pharmaceutical Systems segment.

The Lionville-based company expects sales of between $810 and $830 million in 2006 - which represents about 16- to 19-percent growth over 2005 sales. Excluding the acquisitions made in 2005 from both periods, revenue growth in 2006 is expected to be between 6 and 8 percent, the firm said.

Including the revenues of businesses acquired in 2005 from the beginning of 2005, growth is expected to be between 10 and 12 percent.

From Rubber & Plastics News (A Crain publication)