Elmwood Park-based Sealed Air Corporation announced Wednesday financial results for the first quarter of 2014.
Jerome A. Peribere, president and CEO, said in a prepared statement, “First quarter 2014 net sales of $1.8 billion increased 2.8 percent on a constant dollar basis compared to last year primarily due to favorable price/mix of 3.4 percent. We delivered favorable product price/mix across all divisions and all regions, which contributed to a year-over-year improvement of 160 basis points in gross profit margin. We also increased adjusted EBITDA margin by 110 basis points to 13.8 percent as compared to 12.7 percent in the previous year.”
The company reported first quarter 2014 net earnings were $72 million, or $0.33 per share, compared to net earnings of $1 million in the same quarter of last year.
ALSO ON NJBIZ: