The year dates in the second and fourth columns of the CONDENSED CONSOLIDATED STATEMENTS OF INCOME, the FINANCIAL SEGMENT INFORMATION and the CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS tables were incorrect.

The corrected release reads:

SONOCO REPORTS MUCH IMPROVED SECOND QUARTER 2010 RESULTS; BASE EARNINGS EXCEED GUIDANCE AND FIRST CALL CONSENSUS

Sonoco (NYSE: SON), one of the largest diversified global consumer and industrial packaging companies, today reported strong second quarter 2010 results and raised full-year 2010 base earnings per share guidance for the third time this year.

Highlights

* Second quarter 2010 GAAP earnings per diluted share were $.58, compared with $.33 in 2009.
* Base net income attributable to Sonoco (base earnings) for second quarter 2010 was $.59 per diluted share, compared with $.41 in 2009. (See base earnings definition and reconciliation later in this release.)
* Second quarter 2010 net sales of $1.01 billion were 17 percent higher than the $864 million in 2009.
* Acquisition of Associated Packaging Technologies, Inc. for $120 million on June 29 is expected to add approximately $150 million in annual sales and modest earnings accretion in the second half of 2010.
* Guidance for full-year 2010 base earnings is raised to $2.27 to $2.34 per diluted share, from the previously forecast $2.15 to $2.25.

Commenting on the Company's performance in the second quarter, Chairman, President and Chief Executive Officer Harris E. DeLoach Jr. said, "For the third consecutive quarter, Sonoco produced significantly improved year-over-year earnings as we continued to see a steady recovery in global economic conditions in nearly all of our consumer and industrial businesses, leading to improved volumes and higher productivity. Our second quarter base earnings were three cents per share above the high side of our guidance and above First Call consensus of $.56 per diluted share due to a combination of volume, productivity and price/cost."

"Our Consumer Packaging segment recorded year-over-year gains in operating profits for the tenth consecutive quarter on volume growth and strong productivity. In addition, our Packaging Services segment produced better year-over-year results due to the continuation of special contract packing, higher fulfillment activity and productivity improvements."

"On our Industrial side, the Tubes and Cores/Paper segment experienced significant global volume growth and continued strong productivity, which led to an 82 percent improvement in year-over-year segment operating profits. Finally, our businesses which constitute All Other Sonoco experienced stronger volumes and productivity gains."

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