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Stock Market & Financial Investment News

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January 14, 2013
10:39 EDTAEPIAEP Industries sees FY12 revenue up 18% to $1.15B
AEP Industries said net sales for FY12 are expected to increase approximately $177M, or 18%, to approximately $1.15B. Excluding the impact of the company's acquisition of Webster Industries, the increase was the result of an increase in sales volume of 5% for fiscal 2012, combined with an increase in average selling prices. The acquisition of Webster added approximately an additional $114M in net sales during FY12. Gross profit and net income are expected to increase for FY12 primarily due to the acquisition of Webster, increased sales volumes and improved material margins.
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