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AptarGroup Inc. Reports Operating Results (10-K)

February 25, 2011 | About:

AptarGroup Inc. (NYSE:ATR) filed Annual Report for the period ended 2010-12-31.

Aptargroup Inc. has a market cap of $3.18 billion; its shares were traded at around $47.45 with a P/E ratio of 19 and P/S ratio of 1.6. The dividend yield of Aptargroup Inc. stocks is 1.5%. Aptargroup Inc. had an annual average earning growth of 9.7% over the past 10 years. GuruFocus rated Aptargroup Inc. the business predictability rank of 4.5-star.Hedge Fund Gurus that owns ATR: Joel Greenblatt of Gotham Capital, Tom Russo of Gardner Russo & Gardner, Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns ATR: John Keeley of Keeley Fund Management, Chuck Royce of Royce& Associates, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc.

Highlight of Business Operations:

The Beauty & Home segment is our largest segment in terms of revenue and total assets representing 52% and 48% of Aptargroup's Net Sales and Total Assets, respectively. The Beauty & Home segment primarily sells pumps, aerosol valves and accessories to the personal care and household markets and pumps and decorative components to the fragrance/cosmetic market. We believe we are the leading supplier of fragrance/cosmetic and personal care fine mist spray pumps worldwide and the second largest supplier of personal care lotion pumps worldwide. We believe we are also one of the largest continuous spray aerosol valve suppliers worldwide.

The Closures segment is our second largest segment in terms of revenue and total assets representing 26% and 18% of Aptargroup's Net Sales and Total Assets, respectively. We believe that we are the largest supplier of dispensing closures in the United States, and the second largest supplier in Europe. We primarily manufacture dispensing closures and, to a lesser degree, non-dispensing closures.

While the Pharma segment is our third largest segment in terms of revenue and total assets, accounting for 22% and 16% of Aptargroup's Net Sales and Total Assets, respectively, it is our most profitable segment. We believe we are the leading supplier of pumps and metered dose inhaler valves ("MDI's") to the pharmaceutical market worldwide. Characteristics of this market include (i) governmental regulation of our pharmaceutical customers, (ii) contaminant-controlled manufacturing environments, and (iii) a significant amount of time and research from initially working with pharmaceutical companies at the molecular development stage of a medication through the eventual distribution to the market. We have clean-room manufacturing facilities in Argentina, China, France, Germany, Switzerland and the United States. We believe that the conversion from traditional medication forms such as pills and syringes to value-added, convenient dispensing systems will continue to increase.

Sales in Europe for the years ended December 31, 2010, 2009 and 2008 were approximately 57%, 58% and 62%, respectively, of net sales. We manufacture the majority of units sold in Europe at facilities in the Czech Republic, England, France, Germany, Ireland, Italy, Russia, Spain and Switzerland. Other countries in which we operate include Argentina, Brazil, China, India, Indonesia, Japan, Mexico and Thailand which when aggregated represented approximately 14%, 14% and 12% of our consolidated sales for the years ended December 31, 2010, 2009 and 2008, respectively. Export sales from the United States were $143.4 million, $104.5 million and $100.1 million in 2010, 2009 and 2008, respectively. For additional financial information about geographic areas, please refer to Note 16 in the Notes to the Consolidated Financial Statements in Item 8 (which is incorporated by reference herein).

Read the The complete Report

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