Sonoco Reports Q4 EPS of $0.59 vs. $0.58

Sonoco SON today reported improved 2010 fourth quarter and strong full-year results. Fourth quarter 2010 GAAP earnings per diluted share were $.33, compared with $.46 in 2009. Fourth quarter 2010 GAAP results include after-tax charges of $.31 per diluted share related to a debt tender completed during the quarter, restructuring charges and acquisition costs totaling $.05 per diluted share and one-time tax benefits of $.10 per diluted share. Base net income attributable to Sonoco (base earnings) for fourth quarter 2010 was $.59 per diluted share, compared with $.58 in 2009. Fourth quarter 2010 net sales of $1.13 billion were 13 percent higher than the $1.0 billion in 2009.