Sealed Air Corporation (SEE) posted third-quarter EPS of 38 cents, beating the Zacks Consensus Estimate of 33 cents as well as prior-year EPS of 28 cents. Through its stringent cost-control measures and global manufacturing strategy, the company managed to offset the impact of lower sales on its earnings. Net sales declined 11.4% to $1.08 billion from $1.22 billion in the third quarter of 2008. This included a negative impact of 5.9% from foreign currency translation, 4.1% from lower unit volumes and 1.4% from unfavorable product-price mix. The decline in unit volumes was primarily seen in industrial businesses. Excluding the currency exchange effect, the Food Packaging posted a 4% increase in net sales due to higher unit volumes in North America. The remaining three segments reported lower sales (excluding a negative currency translation impact) due to lower unit volumes in Europe and North America. However, Sealed ...

Sonoco Products Company (SON) reported third quarter earnings of 50 cents per share, beating its own guidance of 43-47 cents and the Zacks Consensus Estimate of 46 cents. However, third quarter EPS was down 17% compared to 60 cents reported last year, primarily due to lower volumes and higher pension expense. Net sales during the quarter fell 12.5% to $930.6 million from $1,063.3 million a year ago. The decline in sales was primarily led by lower volumes (particularly in the industrial-focused businesses), lower selling prices and an unfavorable foreign currency translation impact. Despite low volumes, the company’s gross margin was up 120 basis points at 18.6% primarily due to favorable selling price/material cost relationship. Sales in the Consumer Packaging segment were almost flat compared to last year as higher selling prices offset lower volumes and an unfavorable foreign currency translation impact. Operating profit was up a ...

Sonoco Products Company (SON) plans to close its rigid paper packaging plant in Orrville, Ohio by March 2010. The plant, which was acquired in 2007, manufactures fiber cartridges for adhesives and sealants, and currently employs 84 employees. The first phase of the plant’s shutdown is expected to begin in late November and its workforce will be reduced by half. The company said the plant will remain in partial operation until its closure in March 2010. Production from the Orrville plant will shift to other rigid paper packaging operations in the Ohio area. The company is experiencing weak volumes in all its businesses. In order to minimize the impact of weak volumes on its earnings Sonoco has implemented various restructuring initiatives. The company closed several plants in Western Europe and relocated to places such as Turkey and other Eastern European countries to cut costs. Further, to ...

Sealed Air Corporation (SEE) posted second-quarter EPS of $0.34, in line with the Zacks Consensus Estimate of $0.34. The quarter's earnings were down 10.5% compared to the prior year's $0.38. The impact of lower volumes on the company's earnings was partially offset by stabilizing input costs and strong cost control measures.

Net sales declined 19.6% to $1.03 billion from $1.28 billion in the second quarter of 2008. This included a negative impact of 12.4% from lower unit volumes and 9.1% from foreign currency translation, partially offset by a 1.9% contribution from favorable product-price mix. Sealed Air is experiencing a decline in unit volumes across its businesses since the second half of 2008, primarily due to the deterioration of the North American and European economies.

However, Sealed Air posted strong margins during the quarter, reflecting the effectiveness of the company's ongoing cost control efforts. Gross margin increased 220 basis points year

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Sonoco Products Company (SON) posted second quarter earnings of $0.41 per share, beating its own guidance of $0.34-$0.38 per share and our expectations of $0.38 per share. Second quarter EPS was down 33.9% compared to $0.62 reported last year. Net sales during the quarter decreased 20.5% to $864.2 million from $1,086.6 million a year ago. The decline in sales was primarily led by lower volumes and an unfavorable foreign currency translation impact. Sales in the Consumer Packaging segment declined 6% as higher selling prices, were offset by lower volumes and an unfavorable foreign currency translation impact. However, the segment’s operating profit was up 20% due to delays in the flow-through of higher raw material costs. The segment profit also benefited from the productivity improvements implemented by the company. Both the Tubes and Cores/Paper segment and the Packaging Services segment sales were down 29% compared to ...

Sonoco Products Company (SON), a global manufacturer of consumer and industrial packaging products, is scheduled to report its second quarter results next week. We expect the company to report EPS of $0.38, at the high end of the management guidance, but 37% lower on a year-over-year basis. The company is experiencing weak volumes in all its businesses. In order to minimize the impact of weak volumes on its earnings Sonoco has implemented various restructuring initiatives. The company had announced a restructuring program primarily for its overseas operations, mainly Europe. Under this program, SON plans to close approximately 12 plants and cut about 520 jobs globally. The company closed a number of facilities as part of this move as well as others that are not a part of the formal restructuring plan. Apart from this, Sonoco announced additional cost reduction measures in an attempt to align ...

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Investors occasionally use a stock trading technique called 'Buying Dividends,' which is the technique of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend. This technique generally works only in bull markets.If you are interested in buying dividends, there are many stocks in many different industries to choose from. In order to be entitled to the dividend, you have to buy the stock before the ex-dividend date, and you can't sell the stock until after the ex date. The actual dividend may not be paid for another few weeks.All of the following stocks have market caps over $500 million, and yield over 2%. Nordic American Tanker Shipping Limited ( NAT ) The stock is going ex-dividend on 11/18/2008 and pays a yield of ...