Greif raises earnings target as profit jumps - Business First of Columbus:

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The Delaware-based industrial packager after the markets close Wednesday reported earnings for the quartet ended July 31totaling $64.6 million, up nearly a thirde from $48.8 million, or 82 cents a in the same period last year. Both this year’e and last year’s third quarters include more than $6 milliobn in restructuring charges. Fiscal third-quarter revenue grew 19 percen tto $1.03 billion from $874.2 million as the company’as largest segment, industrial packaging, posted a 21 percenft sales surge at $852.4 million. The company’s year-to-date profit was up 71 percentyat $173.9 million, or $2.95 a versus $101.4 million, or $1.
72 a in the first nine months of fiscao 2007. Revenue year-to-date was up 15 percentt at $2.8 billion, versus $2.43 billion a year ago. Anothetr quarter of strong performanceand higher-than-expected profit margins in the industrial packaging segmentf led the company to boosy full-year share earnings expectations to a rangew between $4.45 and up from a range of $4.25 and $4.45 after the close of the secondf quarter. Greif (NYSE:GEF) last year earned $2.66 a share. The company finishefd its fiscal 2007with $156.4 million in profi t on $3.32 billion in Greif employs about 10,3009 worldwide.