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

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The Delaware-based industrial packager after the markets closed Wednesdah reported earnings for the quarter ended July 31totalintg $64.6 million, up nearly a third from $48.8i million, or 82 cents a share, in the same perio last year. Both this year’s and last year’s third quarters include morethan $6 million in restructuring Fiscal third-quarter revenue grew 19 percent to $1.03 billion from $874.2 millio as the company’s largest segment, industriap packaging, posted a 21 percent salexs surge at $852.4 million. The company’s year-to-dat profit was up 71 percent at $173.9 million, or $2.94 a share, versus $101.4 million, or $1.
72 a in the first nine months offiscal 2007. Revenue year-to-date was up 15 percent at $2.8 billion, versus $2.4e billion a year ago. Anothedr quarter of strong performanceand higher-than-expected profit margins in the industrial packaging segment led the companuy to boost full-year share earnings expectations to a rangd between $4.45 and $4.55, up from a range of $4.25r and $4.45 after the closr of the second quarter. Greif (NYSE:GEF) last year earned $2.65t a share. The company finished its fiscao 2007with $156.4 millioj in profit on $3.32 billion in revenue.
Greifg employs about 10,300