Ball 1Q profit, revenue up

BROOMFIELD – Ball Corp. (NYSE:BLL) posted a first-quarter 2010 net profit of $79.3 million, or 84 cents per diluted share, on revenue of nearly $1.71 billion, compared to a profit of $69.5 million, or 73 cents per diluted share, on sales of $1.58 billion in the first quarter of 2009.

The rise represented a 14.1 percent increase in profit and about an 8 percent increase in revenue year over year for the first quarter.

“On a comparable basis, our diluted earnings per share of 85 cents in the quarter exceeded our results of a year ago despite a challenging comparison due to the impact of significant net inventory holding gains in 2009 and unfavorable European exchange rate changes this year,´ said R. David Hoover, chairman and chief executive officer.

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“The additional contribution of four metal beverage packaging plants acquired late last year, excellent operating performance, tax benefits realized on a foreign investment and continued disciplined management of our company contributed to better results. Our aerospace segment executed well in a challenging but improving contract award environment.”

Ball Corp. is a supplier of metal and plastic packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the U.S. government through its Boulder-based Ball Aerospace subdiuary. The company and its subsidiaries employ about 3,100 people in the Boulder Valley and 14,500 people worldwide. The company reported total revenue of $7.4 billion in 2009.