CCL, a worldwide leader in specialty label and packaging solutions for global corporations, has announced its quarterly report. Sales for the third quarter increased by 13.7% to $689.7 million, compared to $606.6 million for the third quarter in 2013, with 2.5% organic growth and 5.9% positive currency translation.

The acquisitions of Sancoa, Dekopak and Bandfix played primary roles in the numbers.

Excluding foreign currency translation, sales over a nine-month period, which ended on September 30, 2014, increased by 37.5% compared to last year. In addition to the aforementioned acquisitions, the Avery and DES acquisitions from July 1, 2013 helped drive sales.

Operating income increased by 58.1% to $107.2 million. The Label, Avery and Container segments posted 22.0%, 176.5% and 3.4% increases in their respective operating income numbers for the comparable third quarters in 2013. All three segments contributed to a 58.4% improvement over a nine-month period.

The company’s joint ventures resulted in equity earnings of $0.5 million and $1.6 million for the three-month and nine-month periods that ended on September 30, 2014, respectively, compared to $0.5 million and $1.1 million for the same two periods in 2013. These results reflect continued strong performance in the Middle East, improved results in Russia and Chile, offset by start-up costs at the Thailand tube joint venture.

“Third quarter earnings per share reached an all-time record for CCL, with our core Label business contributing strong improvement and Avery delivering solid sales and outstanding profitability performance far ahead of our expectations,” says Geoffrey T. Martin, president and CEO, CCL. “The Canadian dollar weakened against most currencies sequentially and year-over-year resulting in $0.07 earnings per share, positive impact supplementing our sixteenth consecutive quarter of year-over-year improvement in adjusted earnings per share.”

Net earnings for the 2014 third quarter were $63.1 million, an increase of 167.4% compared to $23.6 million for the third quarter of 2013. The company also did not record any restructuring or other expenses during the third quarter.

“Recent geopolitical and macroeconomic news brings the return of uncertainty to our outlook,” adds Martin. “We therefore decided to prepare for the future by closing unprofitable operations and combining some sub scale locations into larger facilities. A small number of CCL Label operations will be impacted involving approximately 100 people in the coming two quarters. Together with the final actions around Avery, largely in Europe, we plan to incur a restructuring charge of approximately $6 million in the fourth quarter. We expect a pre-tax pay back of approximately one year on these changes.”

CCL Industries, with headquarters in Toronto, Canada, now employs approximately 10,200 people and operates 97 production facilities in 28 countries on five continents with corporate offices in Toronto, Canada, and Framingham, MA.