Winpak announces record Q2 earnings, hits 52-week high

Winpak Ltd. (T.WPK) hit a new 52-week high of $8.49; Winpak Ltd. reported consolidated results in US dollars for the second quarter of 2009, which ended on June 28, 2009. Net earnings for the second quarter of 2009 were $11.9 million or 18 cents per share compared to $7.2 million or 11 cents per share in the corresponding period of 2008, an increase of 64.5%.

This result represented the highest quarterly net earnings in the Company's history. Strengthened gross profit margins, bolstered by lower raw material costs, improved net earnings per share by approximately nine cents, which were offset in part by the unfavourable impact of foreign exchange on net earnings of nearly two cents per share.

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