UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 16, 2002
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AptarGroup, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-11846 36-3853103
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State of other jurisdiction (Commission (IRS Employer
Of incorporation) File Number) Identification No.)
475 W. Terra Cotta Ave., Suite E, Crystal Lake, Illinois 60014
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (815) 477-0424
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(Former name or former address, if changed since last report.)
Item 5. Other Events and Regulation FD Disclosure
The following table represents quarterly revenue and earnings data by
reportable segment for 2001. (Amounts in thousands)
Year ended Dispensing Corporate
December 31, 2001 Systems SeaquistPerfect and Other Consolidated
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Total Revenue
Quarter 1 $ 193,181 $ 42,028 $ 235,209
Quarter 2 195,815 38,267 234,082
Quarter 3 186,495 37,768 224,263
Quarter 4 172,168 36,096 208,264
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Full Year $ 747,659 $ 154,159 -- $ 901,818
Less: Intersegment Sales
Quarter 1 $ 134 $ 2,176 $ 2,310
Quarter 2 340 1,973 2,313
Quarter 3 368 2,283 2,651
Quarter 4 361 2,197 2,558
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Full Year $ 1,203 $ 8,629 -- $ 9,832
Net Sales
Quarter 1 $ 193,047 $ 39,852 $ 232,899
Quarter 2 195,475 36,294 231,769
Quarter 3 186,127 35,485 221,612
Quarter 4 171,807 33,899 205,706
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Full Year $ 746,456 $ 145,530 -- $ 891,986
EBIT /(1)/ /(2)/
Quarter 1 $ 31,549 $ 2,600 $ (2,899) $ 31,250
Quarter 2 34,706 1,681 (2,684) 33,703
Quarter 3 30,028 1,504 (3,808) 27,724
Quarter 4 23,478 58 (4,498) 19,038
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Full Year $ 119,761 $ 5,843 $ (13,889) $ 111,715
/(1)/ EBIT is defined as earnings before interest expense in excess of interest
income, corporate expenses and income taxes.
/(2)/ EBIT includes the following amounts for goodwill amortization.
Quarter 1 $ 880 $ 25 $ 3 $ 908
Quarter 2 875 25 3 903
Quarter 3 876 31 3 910
Quarter 4 887 35 3 925
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Full Year $ 3,518 $ 116 $ 12 $ 3,646
Reconciliations to Consolidated Totals
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Year Ended December 31, 2001 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Year
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Income Before Income Taxes:
Total EBIT for reportable
segments $ 31,250 $ 33,703 $ 27,724 $ 19,038 $ 111,715
Strategic initiative charges/(1)/ (7,739) (1,031) (840) (9,610)
Interest expense, net (3,963) (3,895) (3,170) (2,722) (13,750)
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Income before income taxes $ 27,287 $ 22,069 $ 23,523 $ 15,476 $ 88,355
/(1)/ Strategic initiative related costs are associated with the Dispensing
Systems segment. Management evaluates the segment profitability
excluding these costs and therefore these costs are shown as
reconciling items to the consolidated totals.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AptarGroup, Inc.
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(Registrant)
Date April 16, 2002 /s/ Stephen J. Hagge
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Stephen J. Hagge
Executive Vice President, Chief
Financial Officer and Secretary