SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2011

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 9 — SEGMENT INFORMATION

The Company operates in the packaging components industry, which includes the development, manufacture and sale of consumer product dispensing systems.  The Company is organized into three reporting segments.  Operations that sell dispensing systems primarily to the personal care, fragrance/cosmetic and household markets form the Beauty + Home segment.  Operations that sell dispensing systems to the pharmaceutical market form the Pharma segment.  Operations that sell dispensing systems primarily to the food and beverage markets form the Food + Beverage segment.

The accounting policies of the segments are the same as those described in Note 1, Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010.  The Company evaluates performance of its business segments and allocates resources based upon segment income.  Segment income is defined as earnings before interest expense in excess of interest income, certain corporate expenses and income taxes.  Beginning in 2011, the Company changed the segment income measure to include stock option and certain information technology costs that were historically maintained within Corporate & Other.  Prior period information has been conformed to incorporate this change.

Financial information regarding the Company’s reportable segments is shown below:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Total Revenue:
Beauty + Home	$	406,699		$	346,323		$	786,530		$	688,914
Pharma	139,077			117,857			271,272			231,346
Food + Beverage	74,525			62,095			143,249			115,419
Other	36			46			82			71
Total Revenue	620,337			526,321			1,201,135			1,035,750
Less: Intersegment Sales:
Beauty + Home	$	3,961		$	2,489		$	7,530		$	5,671
Pharma	374			33			565			81
Food + Beverage	1,037			830			1,509			1,535
Other	36			46			82			71
Total Intersegment Sales	$	5,408		$	3,398		$	9,688		$	7,358
Net Sales:
Beauty + Home	$	402,738		$	343,834		$	779,000		$	683,243
Pharma	138,703			117,824			270,707			231,265
Food + Beverage	73,488			61,265			141,740			113,884
Other	—			—			—			—
Net Sales	$	614,929		$	522,923		$	1,191,447		$	1,028,392
Segment Income:
Beauty + Home	$	39,877		$	35,881		$	72,530		$	66,992
Pharma	40,369			32,773			79,257			63,419
Food + Beverage	8,613			10,700			16,185			18,315
Corporate & Other	(8,900		)	(6,441		)	(18,670		)	(15,189		)
Income before interest and taxes	$	79,959		$	72,913		$	149,302		$	133,537
Interest expense, net	(3,063		)	(3,123		)	(6,131		)	(5,829		)
Income before income taxes	$	76,896		$	69,790		$	143,171		$	127,708