Operating income for the first quarter of 2013 was $61.9 million, an increase of 17.7% compared to $52.6 million for the initial quarter of 2012. Both the Label and Container segments contributed to the increase. Earnings before net finance cost, taxes, earnings in equity accounted investments, depreciation and amortization and restructuring and other items (EBITDA) was $81.0 million for the first quarter of 2013, compared to $71.2 million for the first quarter of 2012.
“We are delighted to report record quarterly results and our te
nth consecutive period of year-over-year improvement that broke the one dollar earnings per share milestone for the first time. Operating income increased 18% over the prior year and both the Label and Container segments contributed to the record performance. Results were nominally improved by foreign currency translation compared to the prior year period,” said Geoffrey Martin, president and CEO.