Silgan Holdings Inc. announced consolidated unaudited earnings results for fourth quarter and full year ended Dec. 31, 2013. For the quarter, the company reported net sales of $864.8 million, income from operations of $55.3 million, income before income taxes of $35.7 million, net income of $23.3 million or $0.36 basic and diluted per share, compared to the net sales of $858.8 million, income from operations of $58.7 million, income before income taxes of $43.3 million, net income of $29.4 million or $0.42 basic and diluted per share, for the same quarter a year ago. The increase in Net Sales were primarily due to an increase in unit volumes in the closures business due principally to the inclusion of net sales from Portola Packaging, higher average selling prices from the pass through of higher raw material costs and the impact of favorable foreign currency translation, partially offset by lower volumes in the metal and plastic container businesses. The decrease in income from operations of were primarily due to lower volumes in the metal and plastic container businesses, higher rationalization charges, the impact of under absorbed operating costs at the new plants in Eastern Europe and the Middle East and the unfavorable impact from the lagged pass through of increases in resin costs, partially offset by improved manufacturing efficiencies across all businesses and a favorable mix of products sold in the plastic container and closures businesses.

For the year, the company reported net sales of $3,708.5 million, income from operations of $324.2 million, income before income taxes of $254.7 million, net income of $185.4 million or $2.87 basic and diluted per share, net cash provided by operating activities of $350.7 million, capital expenditures of $103.1 million compared to the net sales of $3,588.3 million, income from operations of $325.5 million, income before income taxes of $223.8 million, net income of $151.3 million or $2.17 basic and diluted per share, net cash provided by operating activities of $351.7 million, capital expenditures of $119.2 million for the previous year. The increase in Net Sales were the result of an increase in net sales across all businesses. The decrease in income from operations were largely the result of a decrease in income from operations in the closures business primarily in Venezuela and an increase in corporate expenses. These decreases were partially offset by an increase in income from operations in the metal and plastic container businesses.

For the first quarter of 2014, the company expects adjusted net income per diluted share in the range of $0.45 to $0.55, as compared to adjusted net income per diluted share of $0.46 in the first quarter of 2013.

The company announced earnings guidance for full year 2014. In 2014, The company expects to deliver full year adjusted net income per diluted share in a range of $3.10 to $3.30, an increase of 11.9% to 19.1% to the prior year, and free cash flow of approximately $200 million.