Bemis Company Q1 Profit Flat, Backs 2014 Outlook - Quick Facts

(RTTNews) - Bemis Co., Inc. (BMS) reported first-quarter net income of $49.2 million or $0.48 per share, compared to $49.3 million or $0.47 per share in the prior-year quarter. Adjusted earnings per share was $0.58, compared to last year's $0.53.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter decreased to $1.24 billion, from $1.26 billion in the same quarter last year. Excluding the impact of currency, net sales increased about one percent. Analysts expected revenue of $1.27 billion for the quarter.

Looking ahead to the second quarter, the company expects adjusted earnings in a range of $0.61 to $0.66 per share, while analysts anticipate earnings of $0.64 per share.

For fiscal 2014, the company continues to expect earnings in the range of $2.40 to $2.55 per share. Street is currently looking for full-year 2014 earnings of $2.47 per share.