Silgan Holdings Inc. posted lower fourth-quarter net income despite higher sales for the Stamford maker of plastic packaging and metal food cans.
For three months ended Dec. 31, Silgan netted $29.4 million, or 47 cents a diluted share after adjustments, down from $37.1 million, or 56 cents a share, the same quarter a year earlier.
Fourth-quarter sales grew 2.7 percent to $858.8 million vs. $835.9 million the previous year.
For 12 months, Silgan netted $151.3 million, or $2.70 a diluted share after adjustments, vs. 2011 net of $193.2 million, or $2.63 share after adjustments.
Full-year sales were $3.59 billion vs. $3.51 billion in 2011.
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For 2013, Silgan estimates net income in the range of $3.05 to $3.20 a share.
