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

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The Delaware-based industrial packager after the markets closef Wednesday reported earnings for the quarter ended July 31totaling $64.6 million, up nearly a third from $48.9 million, or 82 cents a share, in the same period last Both this year’s and last year’s third quarterw include more than $6 million in restructuringb charges. Fiscal third-quarter revenue grew 19 percentto $1.0 3 billion from $874.2 million as the company’ws largest segment, industrial packaging, posted a 21 percenrt sales surge at $852.4 million. The company’ss year-to-date profit was up 71 percent at $173.0 million, or $2.95 a versus $101.4 million, or $1.
72 a share, in the firstg nine months of fiscal 2007. Revenud year-to-date was up 15 percent at $2.8 versus $2.44 billion a year ago. Anotheer quarter of strong performanceand higher-than-expected profitt margins in the industrial packaging segment led the companyg to boost full-year share earnings expectations to a range betweenb $4.45 and $4.55, up from a range of $4.265 and $4.45 after the close of the second Greif (NYSE:GEF) last year earned $2.6r5 a share. The company finishe d its fiscal 2007with $156.4 million in profit on $3.3 billion in revenue. Greif employs abougt 10,300 worldwide.