Net sales in the second quarter were $2,010m compared to $2,055m in the second quarter of 2009, primarily due to the pass-through of lower raw material costs and $17m from foreign currency translation, partially offset by increased global sales unit volumes.
Second-quarter gross profit improved to $335m over the $333m in the 2009 second quarter, reflecting an increase in global sales unit volumes and cost reductions, which more than offset inventory repricing gains recognised in the second quarter of 2009 that didn’t recur in 2010, and $4m from foreign currency translation.
Selling and administrative expense was $95m in the second quarter compared to $90m in the prior year, and includes a reduction of $2m from foreign currency translation.
Source: Crown Holdings
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