Graham reports increase in Q1

Graham Packaging Holdings Co., parent company of Graham
Packaging Co.
L.P., today reported first-quarter earnings of $3.8 million,
compared to a loss of $15.6 million in the year-ago quarter.

Graham Packaging Holdings Co., parent company of Graham
Packaging Co.
L.P., today reported first-quarter earnings of $3.8 million,
compared to a loss of $15.6 million in the year-ago quarter.

Net sales increased 7.7 percent to $669.4 million, according
to the Springettsbury
Township, York
County-based bottle maker. And operating income grew 38.2 percent in the
quarter to $60 million, according to Graham.

The company attributed the sales increase to an increase in
resin costs passed on to customers and the positive effect of exchange-rate
changes.

The company’s stock is not publicly traded. Graham makes
financial reports to the U.S. Securities and Exchange Commission because of
obligations related to bond debt, according to the company’s Web site. Graham’s
majority owner is New York-based private-equity firm The Blackstone Group.

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