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The call can be accessed through the following dial-in numbers. Pregis Announces Fourth Quarter and Full Year 2008 Financial Results

DEERFIELD, Ill., / / -- Pregis Corporation, a leading international medical supplies australia manufacturer, marketer, and supplier of protective packaging products and specialty packaging solutions, today announced its 2008 fourth quarter and full year financial results. For the full year, 2008 operating income, adjusted for the aforementioned fourth quarter goodwill impairment charge of $19.1 medical supply companies million, favorable foreign currency translation of $2.0 million, restructuring activity of $9.3 million, and a related curtailment gain of $3.7 million, was $36.0 million. Pregis Corporation is a leading global provider of innovative protective, flexible, and foodservice packaging and hospital supply products.

This represents a decline of approximately 27% compared to 2007 operating income of $49.2 million, also adjusted for restructuring activity of $2.9 million, a $3.1 million write-off of third party due diligence and legal costs related to a potential acquisition that was not consummated, and an unusual insurance gain of $2.8 million. The margin decline was primarily the result of decreased sales volumes due to weakened demand across our home medical supply segments, offset in part by the impact of selling price increases implemented in the third quarter of 2008 as well the impact of our 2008 cost reduction initiatives. For example, if you are shopping for medical supplies online you will be able to search out the medical imaging supplies that are the cheapest and of the highest quality. This contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. home medical supply To this point, we are implementing additional restructuring initiatives to reduce our cost structure by optimizing our manufacturing footprint and our organizational structure and operating processes. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. However, despite these significant headwinds we still generated solid home medical supply store indianapolis earnings and cash flow.

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For hospital aultman durable medical supplies supplies the full year, 2008 net sales increased 4.1% to $1.019 billion as compared to $979.4 million in 2007. The fourth quarter operating loss reflects a $19.1 million non-cash goodwill sterling medical supplies houston impairment charge within one of the Company's specialty packaging businesses driven by the anticipation of a significant reduction in future revenue from a customer that had historically comprised a material portion of the reporting unit's annual revenues. This next phase of our restructuring should be fully implemented by mid-2009.

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In today’s society time seems to be more important than ever and nobody likes wasting it. In addition, we successfully implemented a number of aggressive productivity and cost reduction initiatives which will benefit our business going forward."

Mr. We took aggressive pricing action in response to the escalating raw material costs and remain committed to maintaining pricing discipline. Excluding incremental revenue from 2007 acquisitions, as well as a $20 million impact of unfavorable foreign currency translation, as the U.S. The Company undertakes no duty to update its forward-looking statements.. The decline for the year was primarily due to increased costs of resin, fuel and other raw materials, combined with the significant decline in volumes in the latter part of the year, offset by the impact of selling price increases and cost reduction where can i buy hospital supplies initiatives.

For the year, the decline in earnings was driven by higher costs of resin and other raw materials through much of the year, mitigated in part by the benefit of the Company's selling price increases and productivity and cost reduction programs. These risks may cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The Company generated an operating loss in the fourth quarter of 2008 of $12.3 million, compared to operating income of $4.9 million for the fourth quarter of 2007. For the fourth quarter of 2008, the Company generated net sales of $219.6 million, a decrease of 13.4% versus net sales of $253.7 million in the fourth quarter of 2007. The specialty-packaging leader currently operates 46 facilities in 18 countries around the world. For a discussion of key risk factors, please see the risk factors disclosed in the Company's filings with the Securities & Exchange Commission, including the Company's annual report on Form 10-K and quarterly reports on Form 10-Q. Don’t forget to include shipping to get a total amount so you will know how to make a good comparison.

The replay may be accessed using the following dial-in information. That is of course depends on how much you buy.

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'We're not out of the woods'

HME supporter Specter turns democrat, gains influence

Lincare's earning take big hit

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Senators introduce pharmacy companion bill

ALEXANDRIA, Va. Jon Tester, D-Mont., and Pat Roberts, R-Kan., introduced S. 'We're not out of the woods'

HME supporter Specter turns democrat, gains influence

Lincare's earning take big hit

Email to editor
Comments

Comments
Currently, there's no comments for this article. Jon Tester, D-Mont., and Pat Roberts, R-Kan., introduced S. Those measures include pre-enrollment visits and unannounced site visits for new HME providers, and real-time data analysis to identify and investigate unusual stress level of medical supplies sales billing and ordering practices.

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BALTIMORE - Providers who wish to attend the first meeting of new Program Advisory and Oversight Committee (PAOC) on can register at /blsmeetings/h1565/. Comment on this article
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- The fight to exempt pharmacists from $50,000 surety wake requirement received Senate support May 1. 956, a companion bill to the Preserve Patients Access to Reputable DMEPOS Providers Act of 2009, introduced in April.

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