Jul 19, 2006. /Lesprom Network/. Sonoco, the global packaging company, reported earnings per diluted share for the second quarter of 2006 of $0.49, compared with $0.40 for the same period in 2005, it was announced by Harris E. DeLoach, Jr., chairman, president and chief executive officer. Base earnings per diluted share for the second quarter of 2006, a non-GAAP measure that excludes restructuring charges and certain unusual items, were $.51 per diluted share, compared with $.45 per diluted share, for the same period of 2005. Base earnings for the second quarter excluded after-tax restructuring charges of $1.6 million ($0.02 per diluted share) and $5.6 million ($0.05 per diluted share) in 2006 and 2005, respectively, related to previously announced restructuring actions. Net sales for the second quarter of 2006 were $917 million, up 4.4%, compared with $878 million for the same period in 2005. Net income for the second quarter of 2006 was $49.3 million, compared with $40.2 million for the second quarter of 2005. Base earnings totaled $50.9 million for the second quarter of 2006, compared with $45.8 million for the same period in 2005, an 11.2% increase. "In light of better than expected results for the first half of 2006 and improving results and/or prospects across our business segments, we expect third quarter 2006 base earnings to be in the range of $0.54 to $0.57 per diluted share, assuming no significant change in Companywide volumes or pricing and excluding any restructuring charges and additions to environmental reserves, which cannot be estimated at this time. Furthermore, we are raising guidance for full year 2006 earnings to the upper range of between $2.07 to $2.10 per diluted share, including approximately $0.03 per diluted share related to expensing of stock options, excluding any restructuring charges and additions to environmental reserves, and assuming no significant reduction in pricing due to changing general economic conditions," Mr. DeLoach concluded. On April 19, 2006, Sonoco had increased 2006 base earnings guidance to the upper range of between $1.96 and $1.99 per diluted share from previous guidance of the upper range of between $1.90 to $1.94 per diluted share. Founded in 1899, Sonoco is a $3.5 billion global manufacturer of industrial and consumer packaging products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in 85 nations.