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Greif, Inc. Shows Rise in Net Income
By mmanish on Business News | Friday June 04, 2010 08:40 am
The company Greif, Inc. presented its second quarter report of the fiscal year 2010 on 2nd of June, Wednesday, 2010. In the reports it presented a rise in the net income. The total net income of the company climbed up high to around $42.6 million which can be roughly equated to 73 cents per Class A share. At the same time, the net income per Class B share was $1.10. Previously in the last year per Class A share were $1.6 million or 3 cents and that of Class B share was 4 cents. 

The adjusted income of the company as per the reports reached an amount of $50.4 million. This amount was calculated excluding the amounts in the special items. In the last fiscal year 2009, the adjusted earnings of the company were $25.1 million. 

The earnings Per Class A share in the last fiscal year was $0.43 and this year the earnings per share were $0.86. In a similar way in the last fiscal year, the earnings per Class B share was $0.65 compared to the amount of $1.29.

The net sales of the company Greif, Inc rose around a rate of 29%. The amount went to $836.6 million from a total amount of $647.9 million in the last year. This amount reflected the higher volumes as well as the benefits that it gained through the translation from the foreign currencies.

The analysts of the company expected that the company would report an earning of 81 cents per share on the total revenue of $742.81 million.

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