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West Announces Third Quarter 2009 Results
Date:11/3/2009

LIONVILLE, Pa., Nov. 3 /PRNewswire-FirstCall/ -- West Pharmaceutical Services, Inc. (NYSE: WST) today announced its results for the third quarter of 2009. Summary comparative results were as follows:

    ($millions, except per-share data)    Three Months Ended
                                             September 30
                                            2009      2008

    Net Sales                             $258.9    $256.2
    Gross Profit                            71.7      66.0
    Reported Operating Profit               25.9      17.9
    Adjusted Operating Profit (1)           22.0      19.7
    Reported Diluted EPS                   $0.50     $0.40
    Adjusted Diluted EPS(1)                $0.45     $0.37

    (1) See "Restructuring and Other Items" section of the release and
    "Supplemental Information and Notes to Non-GAAP Financial Measures" in the
    tables following the text of this release.

Consolidated sales were 1.0% higher in the quarter when compared to the prior year period including $8.2 million, or 3.3 percentage points, of adverse effects of foreign currency translation. Excluding currency translation effects, consolidated sales were 4.3% higher than in the prior year quarter, with component sales for H1N1 flu vaccinations contributing substantially. The resulting growth in the Pharmaceutical Systems segment more than compensated for lower sales in the Tech Group segment.

Consolidated gross profit margin was 27.7% in the quarter, compared to 25.7% in the third quarter of 2008. The two margin point increase includes the combined effect of overall higher selling prices and lower raw material costs, net of higher depreciation charges. As a result of improved margins, gross profit increased $5.7 million, to $71.7 million in the current quarter, net of $1.8 million of adverse foreign c
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SOURCE West Pharmaceutical Services, Inc.
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