Oct 21, 2010. /Lesprom Network/. Sonoco reported 3Q net income of $59 million, compared with $47.7 million in 2009. Base earnings were $67 million in the quarter, compared with $50.9 million in 2009, company said in a statement received by Lesprom Network. The company’s overall gross profit margin in the 3Q improved to 19% of sales, from 18.6% in the same period in 2009, due to productivity gains, higher volumes, lower pension expenses and cost-control initiatives. Net sales for the 3Q were $1.05 billion, compared with $931 million in the same period in 2009. This 13% increase during the quarter was due to improved companywide volumes, higher selling prices, open-market sales of corrugating medium previously produced under a cost-plus-fixed-management-fee arrangement and acquisitions. For the nine-month period ending September 26, 2010, net sales increased 15% to $3 billion, compared with $2.6 billion in 2009. Net income attributable to Sonoco for the 2010 nine-month period was $166.5 million, compared with $104.4 million in the same period in 2009. Earnings for the 2010 nine-month period were negatively impacted by previously mentioned after-tax impairment, restructuring and acquisition charges of $12.1 million, compared with $16.6 million in the 2009 period. Base earnings for first nine months of 2010 were $178.6 million, compared with $121 million during the same period in 2009. Significantly higher companywide volumes, lower pension costs and productivity improvements drove the 48%, year-over-year gain in base earnings. Gross profit as a percent of sales was 18.9%, compared with 18.2% in the first nine months of 2009. For the 2010 nine-month period, cash generated from operations was $261 million, compared with $358 million in the same period in 2009. Sonoco expects 4Q 2010 base earnings to be in the range of $.57 to $.61 per diluted share. Base earnings in the 4Q of 2009 were $.58 per diluted share. For the full-year 2010, base earnings are currently projected to be in the range of $2.32 to $2.36 per diluted share, compared with the guidance given on July 21, 2010, of $2.27 to $2.34 per diluted share. The change is due primarily to achieving the upper end of the range of guidance in the third quarter. The company’s 2010 earnings guidance reflects an expected effective tax rate of approximately 30%. Sonoco is a global manufacturer of industrial and consumer products and provider of packaging services.