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Pregis Announces Third Quarter 2011 Financial Results
Date:11/14/2011

60;Excluding favorable foreign currency translation, net sales for the third quarter 2011 increased 3.2%.
  • EBITDA of the protective packaging segment decreased $0.2 million, or 2.0%, compared to the same quarter of 2010.  This decrease was primarily due to increased key raw material costs partially offset by selling price increases.
  • Net sales of the specialty packaging segment increased $7.3 million, or 8.9% compared to the same quarter 2010.  This increase was primarily driven by the impact of selling price increases and favorable foreign currency translation.  Excluding the favorable foreign currency translation, net sales for the third quarter 2011 increased 2.4%.
  • EBITDA of the specialty packaging segment increased $2.3 million, or 29.3%, due primarily to the Company's cost reduction efforts.

  • Previously, the results of the Hexacomb business were reported as protective packaging in the Company's segment analysis.  As a result of the pending sale of the Hexacomb business, the results of the Hexacomb business are now reported as discontinued operations.

    A summary of Adjusted EBITDA, a significant measure required by the Company's indentures and used by the Company to measure its operating performance and liquidity, is presented in the supplemental information at the end of this release.

    Conference Call:The Company will conduct an investor conference call to review its 2011 third quarter results on Wednesday, November 16, 2011 at 10:00 a.m. ET (9:00 a.m. CT).  The call can be accessed through the following dial-in numbers: Domestic: 866-761-0748; International: 617-614-2706; Participant Passcode: 32326120. A replay of the conference call will be available through November 30, 2011.  The replay may be accessed using the following dial-in information: Domestic: 888-286-8010; International: 617-801-6888; Passcode: 64436210.

    About Pregis:Pregis Corporation is a leadi
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