Bemis (NYSE:BMS) reports 4Q16 Profit Up 11.7%

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Bemis (NYSE:BMS) BMS: (%) headquartered in Neenah, Wisconsin reported net income for the fourth quarter of $ 60.50 million or $ 0.64 per share, compared to income $ 56.80 million or $ 0.58 per share for the year-ago quarter.

The company reported fourth quarter adjusted earnings of $ 104.70 million or $ 0.67 per share, while analysts from Thomson Reuters expected $ 0.66 per share.

Top line figures for the fourth quarter increased to $ 988.00 million from $ 982.70 million in the same quarter last year, where as analysts anticipated $ 1.02 billion.

BMS management expects adjusted diluted earnings per share to be in the range of $2.85 to $3.00 for the full year 2017. This guidance excludes approximately $8 million of previously-announced pre-tax restructuring charges as well as any other unusual items that are unpredictable at this time.

About: BMS: (%)

Bemis Company, Inc. manufactures and sells packaging products in North America, Latin America, Europe, and the Asia-Pacific. The company operates through two segments, U.S. Packaging and Global Packaging. It offers multilayer polymer, blown, and cast film structures; and injection molded plastic and folding carton packaging products.

The company’s products are used to produce packaging for food, medical, pharmaceutical, personal care, electronics, and industrial applications. It sells its products through its direct sales force. The company was formerly known as Bemis Bro. Bag Company and changed its name to Bemis Company, Inc. in 1965. Bemis Company, Inc. was founded in 1858 and is based in Neenah, Wisconsin.