Ball Corp. reports $11.7 million loss

Article Last Updated: Monday, Aug 01, 2005 - 10:40:18 pm PDT

Ball Corp. reports $11.7 million loss

By Christine Cubé

FAIRFIELD - Metal beverage container manufacturer Ball Corp. reported a second-quarter loss of $11.7 million, largely due to the closure of its Baie d' Urfe food container plant in Canada.

The company, which is based in Broomfield, Colo., and has a manufacturing plant in Fairfield, posted earnings of $79 million, or 71 cents per diluted share, during the second quarter. During the same period last year, Ball Corporation posted earnings of $90.7 million, or 80 cents per diluted share.

Second-quarter sales were $1.55 billion, compared with $1.47 billion in the second quarter of 2004.Year-to-date earnings were a penny better than last year with $137.6 million, or $1.22 per diluted share, reported during the first six months of this year, compared with $137.5 million, or $1.21 per diluted share, in the same period last year. The 2005 second quarter and first-half results include an after-tax charge of $5.9 million, or five cents a share, related to the closing of the Canadian plant. Also, 12-ounce beverage can volumes were down from last year in North America, and higher costs for freight, energy and some materials had a negative effect on second quarter earnings.

R. David Hoover, president and CEO of Ball Corporation, said the company's strong first quarter "borrowed a bit from the second quarter." "Through the first six months, our results on a comparable basis are six cents better than the same period last year," he said, in a release.

Ball Corporation's Fairfield facility is located on about 20 acres in the Tolenas Industrial Park. The Fairfield plant was the fourth of Ball Corporation's metal beverage container facilities. It began operation in 1976 with two can lines providing aluminum beer cans for Anheuser-Busch. Today, it also serves the soft drink industry.

Ball Corporation supplies metal and plastic packaging products, primarily for food and beverage industries. The company also owns Ball Aerospace & Technologies Corp., which develops sensors, spacecraft, systems and components for government and commercial markets.

Reach Christine Cubé at 427-6934 or ccube@dailyrepublic.net.

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