CCL Industries Reports 4Q, Full Year Results
Mr. Martin continued, "Sales increases in all geographic regions, including Europe, underpinned an unusually strong 13 percent fourth quarter sales growth rate for CCL Label. Operating income gains were held to eight percent by higher input costs in certain product lines. Additionally, the floods in Thailand temporarily impaired many of our customers' operations in the country affecting label demand and trimming three cents a share from the Company's fourth quarter net earnings. No damage was done to any of our facilities in Bangkok. The robust performance was broad based across most global product lines and end-use markets but was particularly strong in both the Sleeve and Healthcare and Specialty sectors. CCL Label's annual revenues in 2011 passed the $1 billion milestone for the first time with solid organic growth and modest profitability improvement. Despite a challenging global economy and inflationary raw material costs, this segment delivered a 21.8 percent EBITDA margin for the year, which continues to be at the high end of our target range.
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