Pactiv Posts Third Quarter EPS of $0.59

For the quarter ended September 30, 2010, Pactiv Corporation PTV today announced that income from continuing operations was $79 million, or $0.59 per share, compared with $79 million, or $0.59 per share, in 2009. Results included approximately $21 million, or $0.16 per share, of a favorable tax liability adjustment related to the expiration of the U.S. federal tax statute of limitations for 2006. Sales rose 12 percent to $944 million from $839 million, reflecting 11-percent higher volume and 1-percent higher pricing. The acquisition of PWP Industries added $42 million to third quarter sales.