Sonoco reports 2009 third quarter financial results

Sonoco reported third quarter 2009 earnings Thursday of $.47 per diluted share, compared with $.57 per diluted share reported in the third quarter of 2008. Results in the current year’s quarter were impacted by higher pension expense and lower company-wide volumes, particularly in businesses serving recession-impacted industrial markets, according to a company press release.

Base earnings for the third quarter of 2009 were $.50 per diluted share, compared with $.60 per diluted share reported in the same period in 2008.

Net sales were $930.6 million, a decline of 12 percent (8 percent excluding the impact of foreign currency translation), compared with $1.06 billion in the same quarter last year.  Net income attributable to Sonoco for the third quarter of 2009 was $47.7 million, compared with $57.3 million for the same period in 2008. Base earnings in 2009 were $50.9 million, compared with $60.6 million last year.

Founded in 1899 and headquartered in Hartsville, Sonoco is a $4.1 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. It is a member of the Dow Jones Sustainability World Index. For more information, visit http://www.sonoco.com online.