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Company Links |
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Company Strategy |
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The Company is a leading North American manufacturer of general line rigid metal and plastic containers.
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Product/Services Portfolio |
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The Company’s business is organized on the basis of product type with two reportable segments: metal packaging and plastics packaging. The Company operates these reportable segments as separate divisions and differentiates the segments based on the nature of the products and services they offer.
The Company’s metal packaging segment operates primarily in North America in the general line segment of the metal container market. In the United States, the Company is the leading producer of steel paint cans, the third largest producer of steel aerosol cans and it has established significant market positions in most of its other product lines.
The Company’s metal packaging segment customers include many of the world’s leading paint, consumer and personal care companies.
The Company’s principal raw materials consist of tinplate, blackplate and cold rolled steel, energy, various coatings, inks and compounds. Steel products represent the largest component of raw material costs. With the exception of pails and ammunition boxes, which are manufactured from either blackplate or cold rolled steel, all of the Company’s products are manufactured from tinplate steel.
The Company is the largest manufacturer of general line rigid plastic containers in the North American market and it produces products in five broad categories: open-head containers; tight-head containers; “F”-style plastic bottles; plastic drums; and plastic paint bottles.
The main raw material utilized in the plastics packaging segment is HDPE, a plastic resin used to produce rigid plastic packaging containers and materials.
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Investment Analysis |
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Net sales was $202.4 million for the three months ended December 31, 2006 and $201.4 million for the three months ended January 1, 2006, an increase of $1 million, or 0.5%.
Gross margin was $28.2 million for the three months ended December 31, 2006 and $16 million for the three months ended January 1, 2006, an increase of $12.2 million, or 46%.
Depreciation and amortization expenses were $11.4 million for the three months ended December 31, 2006 and $9.95 million for the three months ended January 1, 2006, an increase of $1.4 million, or 14.5%.
Interest expense was $9.4 million for the three months ended December 31, 2006 and $8.2 million for the three months ended January 1, 2006, an increase of $1.2 million, or 14.4%.
Net income was $1.7 million for the three months ended December 31, 2006 compared to the net loss of $4.6 million for the three months ended January 1, 2006, an increase of $6.3 million.
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Income Data (Thousand $ Except EPS) |
| Year |
Revenues |
Costs |
Oper Income |
Taxes |
Net Income |
EPS |
| 2004
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611,588 |
602,247 |
0.00 |
3,634 |
5,707 |
0.59 |
| 2005
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829,109 |
816,629 |
0.00 |
4,351 |
8,129 |
0.74 |
| 2006
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918,513 |
905,777 |
0.00 |
6,941 |
5,397 |
0.49 |
| *As of period October 3, 2004, October 2, 2005 and October 1, 2006
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Balance Sheet Data
(Thousand $) |
Year |
Cash |
Acct Recv. |
Inventory |
Total Cur Assets |
Total Cur Liability |
PPE |
Total Assets |
LT Debt |
SH Equity |
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2005 |
51,889 |
104,122 |
71,965 |
240,900 |
187,191 |
142,476 |
771,994 |
365,300 |
123,436 |
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2006 |
50,979 |
115,986 |
80,441 |
263,577 |
192,589 |
142,944 |
833,745 |
419,495 |
127,483 |
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*As of period October 2, 2005 and October 1, 2006
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| Cash
Flow Summary
(Thousand $) |
Year |
Net Cash-Ops |
Net Cash-Inv |
Net Cash-Fin |
Net Change |
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2004 |
45,098 |
-220,857 |
202,836 |
27,077 |
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2005 |
64,324 |
-19,247 |
-20,513 |
24,564 |
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2006 |
60,933 |
-92,131 |
30,288 |
-910 |
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*As of period October 3, 2004, October 2, 2005 and October 1, 2006
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- Short-Term Growth
- Long-Term Growth 
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