Bemis Co Inc (BMS) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

EXHIBIT 99

BEMIS COMPANY, INC.

One Neenah Center, 4th Floor

P.O. Box 669

Neenah, Wisconsin  54957-0669

For additional information please contact:

Melanie E. R. Miller

Vice President, Investor Relations

and Treasurer

(920) 527-5045

Kristine Pavletich

Public Relations Specialist

(920)527-5159

FOR IMMEDIATE RELEASE

BEMIS COMPANY REPORTS 2011 FOURTH QUARTER AND FULL YEAR RESULTS

NEENAH, WISCONSIN, January 25, 2012

Highlights of the full year 2011:

·                  Cash flow from operations was $416.6 million, an increase of 13.2 percent from 2010.

·                  Acquisitions of barrier packaging manufacturing companies in China and North America position Bemis to expand its geographic and market application reach.

·                  Bemis initiated a facility consolidation program to generate over $100 million in savings over the next three years.

·                  Facility consolidation related activities resulted in a charge of $0.24 per share during the fourth quarter of 2011, representing employee related charges and other fixed asset related costs.

·                  2011 adjusted diluted earnings per share were $1.99, reflecting the negative impact of higher raw material costs and lower unit sales volumes during 2011. (See attached schedule: “Reconciliation of Non-GAAP Data.”)

“We faced a challenging environment in 2011, as dramatic resin price increases and softening customer demand impacted our performance throughout the year,” said Henry Theisen, Bemis Company’s President and Chief Executive Officer.  “As we enter 2012, we are making changes to our manufacturing footprint in order to meaningfully reduce expenses and create positive profit momentum going forward.”

CONSOLIDATED RESULTS

Full Year 2011

For the full year 2011, net sales were $5.32 billion, an increase of 10.1 percent compared to net sales of $4.84 billion in 2010.  Acquisitions contributed approximately 4.8 percent to net sales growth.  The impact of currency translation was insignificant. The remaining organic sales growth primarily reflects selling price increases partially offset by lower unit sales volume.

Diluted earnings per share from continuing operations for the full year 2011 were $1.70, a decrease of 7.1 percent from $1.83 per share reported in 2010.  Diluted earnings per share from continuing operations, as adjusted, would have been $1.99 in 2011, a decrease of 6.1 percent compared to $2.12 per share in 2010.  (See attached schedule: “Reconciliation of Non-GAAP Data.”)

Fourth Quarter 2011

Net sales of $1.27 billion for the fourth quarter of 2011 represented a 1.7 percent increase from $1.25 billion for the same period of 2010.  Acquisitions increased net sales by approximately 1.8 percent.  The impact of currency translation was insignificant.

Quarterly diluted earnings per share from continuing operations were $0.19 for the fourth quarter ended December 31, 2011.  Diluted earnings per share, as adjusted for charges primarily associated with the facility consolidation program, would have been $0.45 for the fourth quarter of 2011 compared to $0.49 per share for the fourth quarter of 2010.  (See attached schedule: “Reconciliation of Non-GAAP Data.”)

FACILITY CONSOLIDATION

During the fourth quarter of 2011, Bemis initiated a facility consolidation program to improve efficiencies and reduce fixed costs.  As a part of this program, both administrative and production workforce levels were reduced during the fourth quarter.  Bemis has