AptarGroup's Income And Revenue Surge (ATR)

Crystal Lake, Illinois based AptarGroup, Inc. ATR on Tuesday after the market closed released financial results that beat Wall Street expectations. AptarGroup, Inc. (ATR) reported that its 2nd quarter net income surged to $46.7 million, or 67 cents per share, up from $28.5 million, or 41 cents per share, a year earlier. Revenue jumped 19% to $522.9 million, up from $440.5 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 63 cents per share, on revenue of $493.99 million. President and CEO Peter Pfeiffer said that “This was an exceptional quarter for us across the board. Our decision to reduce certain costs during the economic downturn last year without sacrificing critical research or capacity was the right move. We put ourselves in position to take advantage of rising demand as our customers’ businesses regained their momentum." The company also announced that it was raising the quarterly dividend 20% to 18 cents per share. Analysts covering ATR have a consensus price target of $45.29 per share. Read more from Benzinga's Company news.