Sealed Air Corp., Elmwood Park, NJ, reported year-end sales of $4.84 billion, an increase of 4% over 2007 sales. Profit declined 49% to $179.9 million.
Fourth quarter 2008 sales decreased 7% to $1.17 billion. Excluding a $66 million unfavorable effect of foreign currency translation, sales would have decreased 1%. Profit for the quarter was $47.3 million, down 41% from the same period the prior year.
Although market conditions negatively impacted our revenue, our operating results reflect the proactive steps we took earlier in the year to manage our business in these challenging times, CEO William V. Hickey said. “During the year we focused on managing pricing and supply chain initiatives to address volatile resin costs. These efforts, …
Sealed Air Sales Up 4% For 2008
Sealed Air Corp., Elmwood Park, NJ, reported year-end sales of $4.84 billion, an increase of 4% over 2007 sales. Profit declined 49% to $179.9 million.
Fourth quarter 2008 sales decreased 7% to $1.17 billion. Excluding a $66 million unfavorable effect of foreign currency translation, sales would have decreased 1%. Profit for the quarter was $47.3 million, down 41% from the same period the prior year.
Although market conditions negatively impacted our revenue, our operating results reflect the proactive steps we took earlier in the year to manage our business in these challenging times, CEO William V. Hickey said. “During the year we focused on managing pricing and supply chain initiatives to address volatile resin costs. These efforts, …
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