West Pharmaceutical posts sales, earnings gains in third quarter

Lionville, Pennysylvania -- Medical components manufacturer West Pharmaceutical Services, Inc. reported net income of $7.1 million on net sales of $181.6 million, up from earnings of $6.8 million on sales of $133.1 million in the 2004 quarter, the company announced Oct. 20.

Acquired businesses accounted for $41.6 million of the $48.5 million increase in third quarter sales.

Through nine months of 2005, the Lionville-based company posted sales of $504 million, up 26.1 percent over 2004. Net income rose 78.4 percent in the period to $33.9 million.

West also said it expects full year 2006 revenues to be between $810 and $830 million, which would represent approximately 16- to 19-percent growth over estimated 2005 revenues. Excluding the impact of acquisitions made in 2005, revenue growth in 2006 is expected to be between 6 and 8 percent, the company said.

From Rubber & Plastics News (A Crain publication)