Silgan Reports Q4 EPS of $.42 vs. $.40

Silgan Holdings Inc. SLGN today reported full year 2010 net income of $144.6 million, or $1.89 per diluted share, as compared to full year 2009 net income of $159.4 million, or $2.07 per diluted share. The Company reported net income for the fourth quarter of 2010 of $16.4 million, or $0.22 per diluted share, as compared to net income for the fourth quarter of 2009 of $23.9 million, or $0.31 per diluted share. The results for the fourth quarter of 2010 included pre-tax rationalization charges of $18.5 million, or $0.17 per diluted share net of tax, and a pre-tax loss on early extinguishment of debt of $3.0 million, or $0.03 per diluted share net of tax. Results for the fourth quarter of 2009 included a pre-tax charge of $0.6 million for the loss on early extinguishment of debt. As a result, adjusted net income per diluted share for the fourth quarter of 2010 was $0.42 versus $0.31 in the prior year quarter.