Silgan boosts fiscal-year outlook

Silgan increases full-year profit prediction by 10 cents to $4.10 per share

• On 10:32 am EDT, Wednesday October 21, 2009

STAMFORD, Conn. (AP) -- Packaging maker Silgan Holdings Inc. on Wednesday boosted its fiscal-year profit prediction, citing strong financial results for the first three quarters of the year.

Silgan said it now expects to post a profit of $4.10 per share for the year, excluding one-time charges, up from its previous prediction of $4 per share.

Analysts polled by Thomson Reuters expect a 2009 profit of $3.88 cents per share.

The company also projected an adjusted fourth-quarter profit of 46 cents to 56 cents per share, while analysts expect a profit of 66 cents per share.

Also on Wednesday, Silgan released third-quarter results that beat Wall Street predictions.

In morning trading, Silgan shares rose 16 cents to $55.10.