Navigation Links
Pregis Announces Fourth Quarter and Full Year 2008 Financial Results
Date:3/26/2009

n. For the year, the decline in earnings was driven by higher costs of resin and other raw materials through much of the year, mitigated in part by the benefit of the Company's selling price increases and productivity and cost reduction programs.

Commenting on the Company's results, Mike McDonnell, President and Chief Executive Officer, stated, "2008 featured some of the most challenging market conditions this industry has ever faced. Rapidly escalating raw materials costs had a significant negative impact on our performance in the first half of the year, while unprecedented economic weakness in both the North American and European economies negatively impacted us in the second half, particularly in the fourth quarter. However, despite these significant headwinds we still generated solid earnings and cash flow. We took aggressive pricing action in response to the escalating raw material costs and remain committed to maintaining pricing discipline. In addition, we successfully implemented a number of aggressive productivity and cost reduction initiatives which will benefit our business going forward."

Mr. McDonnell continued, "We enter 2009 with the expectation that it will be a very challenging year, given the continuing economic uncertainty. Although we were very successful in 2008 in reducing costs through our various cost reduction and restructuring initiatives, we recognize that based on our 2009 outlook, additional cost reductions are required. To this point, we are implementing additional restructuring initiatives to reduce our cost structure by optimizing our manufacturing footprint and our organizational structure and operating processes. This next phase of our restructuring should be fully implemented by mid-2009. We estimate that these new initiatives should drive 2009 year-over-year savings of approximately $15 million to $20 million, which will help offset the economic weakness we believe will continue throughout
'/>"/>

SOURCE Pregis Corporation
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Related medicine news :

1. Pregis Announces Investor Conference Call to Review Fourth Quarter and Full Year 2008 Financial Results
2. Pregis Announces Third Quarter 2008 Financial Results
3. Pregis Announces Investor Conference Call to Review 2008 Third Quarter Financial Results
4. Pregis Announces Second Quarter 2008 Financial Results
5. Pregis Announces First Quarter 2008 Financial Results
6. Pregis Announces Fouth Quarter and Full Year 2007 Financial Results
7. Pregis Announces Investor Conference Call to Review 2007 Fourth Quarter and Full Year Financial Results
8. Pregis Corporation Appoints New President of Protective Packaging North America
9. Jazz Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2008 Financial Results
10. Sagent Pharmaceuticals Announces U.S. FDA Approval of Azithromycin for Injection
11. Mylan Announces Intention to Purchase Remaining Interest in Matrix Laboratories and Delist Matrix from Indian Stock Exchanges
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... far outweigh the risks when children receive The Right ... Dose. However, overuse and misuse of imaging change the ... effort to ensure a national protocol is put into ... of Patient Safety , calls for the American College ... and the Centers for Medicare & Medicaid Services to ...
(Date:7/10/2014)... more severe illness and even death are likely to ... developing influenza. Now, however, a team of researchers based ... reverse the order of infection, the bacteria Streptococcus ... a bad case of the flu. , The ... described as a bacterial virulence factor, might protect macrophagesa ...
(Date:7/10/2014)... Rutgers University-Newark says the human brain operates much the ... that could provide a better understanding of schizophrenia, bipolar ... an estimated 13.6 million Americans. , In newly published ... an assistant professor at the Center for Molecular and ... a person at rest is basically the same as ...
(Date:7/10/2014)... with localized prostate cancer were more likely to ... less effective treatments and survived for shorter times ... a UCLA study has found. , The negative ... such as bias against the mentally ill, depression,s ... lack of investment in his general health and ...
(Date:7/10/2014)... are just as tempting as full-fat equivalents could ... insights into how proteins can replace fats without ... by the Engineering and Physical Sciences Research Council ... University of Edinburgh has produced modified proteins that ... mimic the behaviour of fats during food manufacture. ...
Breaking Medicine News(10 mins):Health News:Mayo Clinic calls for standardization of safe imaging protocols for children 2Health News:Bacterial colonization prior to catching the flu may protect against severe illness 2Health News:Working to loosen the grip of severe mental illness 2Health News:Depressed men with prostate cancer are diagnosed later stage, get less effective therapies 2Health News:Great tasting low-fat cheeses and cakes could soon be on the menu 2
... 5, 2008/Saranac Lake, N.Y.-- On May 12, 2008, the ... in their Distinguished Americans series. The stamp, the eleventh ... (1848-1915). Stamp collecting is one of the most popular ... 20 million American collectors participating in the activity. The ...
... PRINCETON, N.J., May 7 Patients, nurses,physicians and other ... on the State House May 12 to protest the ... 2009 state budget,plan., WHAT: "Care Today, Gone Tomorrow," ... House steps, West State Street, Trenton, WHEN: 12 ...
... from Caring.com Now Available to Thousands ... of Pennsylvanians Caring for an Aging Parent, ... to,announce a partnership with Trib Total Media, publisher of ... the,magazine,s new online companion. The new online resource,( http://pacaregiver.caring.com ...
... HMS Holdings Corp. (Nasdaq:,HMSY) today announced that it ... which will be held May 13-15, 2008 at the ... CEO, and Walter Hosp, Chief Financial,Officer of HMS Holdings ... PT., HMS Holdings Corp. (Nasdaq: HMSY ) ...
... families in Mexico support innovations to extend the local, productive impact of remittances shines ... ... in Mexico and the US. - Broad, support in communities of origin for ... money from the US. -, Family members in Mexico would encourage senders ...
... leads $12 Million in Series A First Tranche Financing, ... NGN Capital announced,today the formation of ACT Biotech Inc., ... cancer drugs. ACT Biotech has,entered into a license agreement ... early stage oncology assets. In conjunction with the,agreement, ACT ...
Cached Medicine News:Health News:New United States Postal Service stamp honors an American scientist 2Health News:New United States Postal Service stamp honors an American scientist 3Health News:Caring.com Partners With Trib Total Media to Support the Development of a New Online Eldercare Resource 2Health News:Recipients in Mexico Favor Receiving US-Sent Remittances Through Companies that Contribute to Local Economic Development and Job Creation Projects 2Health News:Recipients in Mexico Favor Receiving US-Sent Remittances Through Companies that Contribute to Local Economic Development and Job Creation Projects 3Health News:ACT Biotech Acquires Clinical and Early Stage Oncology Portfolio Licenses From Bayer Healthcare 2
(Date:1/15/2014)... R.I. , Jan. 15, 2014 MultiCell Technologies, ... filed a U.S. provisional patent application concerning composition of ... to achieve targeted tumor cell death.  ... small noncoding double stranded RNA molecules (VSRNAs) which interfere ...
(Date:1/15/2014)... Jan. 15, 2014  According to Millennium Research Group ... intelligence, the United States ... markets will expand moderately through 2022, with embolization ... particular, increasing interest in drug-eluting beads (DEBs) and ...
(Date:1/15/2014)... Pharmaceuticals International, Inc. (NYSE: VRX and ... the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with ... indirect wholly-owned subsidiary, Sapphire Subsidiary Corp. ("Purchaser"), for all ... Medical, Inc. (NASDAQ: SLTM ) ("Solta") at ...
Breaking Medicine Technology:MultiCell Technologies Files Patent Application Covering New Class of RNA Therapeutics 2MultiCell Technologies Files Patent Application Covering New Class of RNA Therapeutics 3US and European Transcatheter Embolization and Occlusion Device Market to Surpass $1.6 Billion by 2022 2US and European Transcatheter Embolization and Occlusion Device Market to Surpass $1.6 Billion by 2022 3Valeant Pharmaceuticals Announces Receipt Of Antitrust Clearance For Its Previously Announced Acquisition Of Solta Medical, Inc. 2Valeant Pharmaceuticals Announces Receipt Of Antitrust Clearance For Its Previously Announced Acquisition Of Solta Medical, Inc. 3
... Capecitabine More Than Doubles Time to Progression and Overall Response ... + Placebo in Patients with 2nd or 3rd Line Metastatic ... Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX ) yesterday announced ... Akt-inhibitor for cancer, in combination with capecitabine as a treatment ...
... , New study finds patients who opt for surgery have decreased ... People with the spine disease called degenerative spondylolisthesis ... from pain over time compared to those who do not have ... of The Journal of Bone and Joint Surgery ...
Cached Medicine Technology:Keryx Biopharmaceuticals Announces Positive Data from a Randomized, Multi-Center, Placebo-Controlled, Phase 2 Combination Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colon Cancer 2Keryx Biopharmaceuticals Announces Positive Data from a Randomized, Multi-Center, Placebo-Controlled, Phase 2 Combination Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colon Cancer 3Keryx Biopharmaceuticals Announces Positive Data from a Randomized, Multi-Center, Placebo-Controlled, Phase 2 Combination Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colon Cancer 4Keryx Biopharmaceuticals Announces Positive Data from a Randomized, Multi-Center, Placebo-Controlled, Phase 2 Combination Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colon Cancer 5Keryx Biopharmaceuticals Announces Positive Data from a Randomized, Multi-Center, Placebo-Controlled, Phase 2 Combination Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colon Cancer 6Back to Normal: Surgery Improves Outcomes for Spine Patients 2Back to Normal: Surgery Improves Outcomes for Spine Patients 3Back to Normal: Surgery Improves Outcomes for Spine Patients 4
The Spex SkinSkan is the only in-vivo, fibre-optic spectrofluorometer designed specifically for skin-fluorescence measurements. It is also ideal for many remote sensing steady-state fluorescence appl...
The essence of fluorescence analysis is sensitivity. The high throughput optical system in the RF-5301PC employs a blazed holographic grating, photomultiplier and digital signal processing to provide...
The new Gemini EM microplate spectrofluorometer builds on the successful Gemini platform. This next generation reader incorporates all of the high performance features of the Gemini XS with new capab...
... DNA, RNA, Or Fluorescent Tags. Accurate quantitation of ... to life science research. The RF-Mini 150 Fluorometer ... as small as 1ng/ml of DNA specific Hoechst ... and emission filters, the RF-Mini 150 can measure ...
Medicine Products: