UPDATE 1-Pactiv 4th-qtr profit tops Wall Street’s view

* Q4 EPS 53 cents vs analysts’ estimate of 50 cents

* Revenue $854 mln vs analysts’ estimate of $848.82 mln

* Shares flat after-hours

LOS ANGELES, Jan 26 (BestGrowthStock) – U.S. consumer packaging
maker Pactiv Corp (PTV.N: ) said its fourth-quarter profit (Read more your timing to make a profit.) rose
largely due to lower freight and warehousing costs, beating
Wall Street estimates.

Pactiv, which makes Hefty brand trash bags, posted net
income of $72 million, or 54 cents per share, compared with $55
million, or 41 cents per share, in the year-ago quarter.

Income from continuing operations was $71 million, or 53
cents a share, compared with $55 million, or 41 cents a share
on a reported basis, or 42 cents a share excluding
restructuring charge in 2008.

Analysts, on average, had expected 50 cents a share,
according to Thomson Reuters I/B/E/S.

The company said revenue for the quarter fell to $854
million compared with $883 million a year ago.

Analysts, on average, had expected revenue of $848.82
million.

Pactiv shares were unchanged after hours after closing down
12 cents at $23.33 Tuesday on the New York Stock Exchange.

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(Reporting by Laura Isensee)

UPDATE 1-Pactiv 4th-qtr profit tops Wall Street’s view