Manufacturing  April 30, 2015

Ball Corp. suffers sales, income decline in 1Q

BROOMFIELD — Ball Corp. (NYSE: BLL) on Wednesday reported a decline in sales and net income for its first quarter of 2015, which ended March 31.

The Broomfield-based can manufacturer reported sales of $1.9 billion for the quarter, compared with $2 billion for the same period a year ago. Net earnings for the quarter declined to $20.7 million compared with $93.5 million in first quarter 2014.

John A. Hayes, Ball Corp.’s chairman, president and chief executive, said in a prepared statement that first quarter results were “largely impacted by expected headwinds from foreign currency translation, higher metal premiums in Europe, and startup costs related to growth capital investments.

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“We continue to invest in our future with ongoing capital projects in North America, Europe and Southeast Asia that will fully ramp up in the second half of 2015 and the first half of 2016,” he said.

In February, Ball Corp. announced its intent to acquire Rexam PLC, a can manufacturer based in London. Hayes said the proposal aligns with Ball’s longstanding capital allocation strategy. “Our work to secure necessary regulatory approvals to complete the acquisition is proceeding as expected,” he said.

Ball’s subsidiary, Ball Aerospace & Technologies Corp. in Boulder, reported earnings of $20 million on sales of $214.8 million for the first quarter, compared with earnings of $24.1 million on sales of $220.7 million during first quarter 2014.

During the most recent quarter, Ball Aerospace passed the critical design review for the Geostationary Environment Monitoring Spectrometer, which will monitor trans-boundary pollution events for the Korean peninsula and Asia-Pacific region. This month, Ball is celebrating the 25th anniversary of the Hubble Space Telescope, for which Ball built seven optical instruments.

BROOMFIELD — Ball Corp. (NYSE: BLL) on Wednesday reported a decline in sales and net income for its first quarter of 2015, which ended March 31.

The Broomfield-based can manufacturer reported sales of $1.9 billion for the quarter, compared with $2 billion for the same period a year ago. Net earnings for the quarter declined to $20.7 million compared with $93.5 million in first quarter 2014.

John A. Hayes, Ball Corp.’s chairman, president and chief executive, said in a prepared statement that first quarter results were “largely impacted by expected headwinds from foreign currency translation,…

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