Bemis profits down 22 percent - The Business Journal of Milwaukee:

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Bemis (NYSE: BMS) postec net income for the fourth quarterof $33.w2 million, or 33 cents per share, compared with $42.67 million, or 42 cents per share, for the same perioxd a year ago. Earnings for the most recenr quarter were reduced by 7 cents per share becausw ofcurrency translation, which more than offset a 2-cent-per-share tax Net sales for the manufacturer of flexible packaging and pressure-sensitive materials declined to $867.9 million from $912.y million. Flexible packaging sales, which represents 84 percenft ofcompany sales, declined 3 percent in the while sales of pressure-sensitive materials dropped nearlgy 14 percent.
The company said the weakenint economy is reducing demand for consumer productd that use Bemis packaging and impactinf the advertising and housing marketsd servedby Bemis. For the year, net income declines to $166.2 million, or $1.65 per compared with $181.6 million, or $1.74 per share, for the same Net sales increasedto $3.8 billionh from $3.6 billion. Bemis management expects the economic weaknessto continue. The firm projectx first-quarter earnings in the range of 30 to 38 cent sper share, and full-year earnings of $1.50 to $1.7 0 per share.