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The Delaware-based industrial packager said it recorded earnings in the quarteer ended April 30totaling $48.7 or 82 cents a up from $18.6 million, or 32 cents a a year ago. Last year's second quartefr had been hitwith $31.9 milliobn in charges, mainly because of restructurinbg charges and debt extinguishment. This year's second quartetr included chargestotaling $7.4 million the majority of which stemmed from for Second-quarter sales increased 13 percent to $918 million, versus $815 millioh in the same period last year. Sales growth was drive by a 14 percent gainin Greif's largest segment, industrial packaging.
Its smaller paper packaging and timbe r business alsoposted over-the-year gains. Profig in the fiscal first half has more than doubledto $109.3 million, or $1.85 a from $52.6 million, or 89 centsw a share, in the first six month s of fiscal 2007. Year-to-date sales are up 12 percent at $1.7 6 billion, versus $1.57 billion last Positive trends for most ofthe company's segmente have led the company to boost its 2008 guidancs by 10 cents on both ends. Full-yeadr share earnings are expected to be in a rangrbetween $4.25 and $4.45. Greif last year earneed $2.65 a share. Greif (NYSE:GEF) finishedf its fiscal 2007 with $156.4 million in profit on $3.32 billion in revenue.
The company employw about 10,300 worldwide.
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