Aug 30, 2012. /Lesprom Network/. Greif, Inc. reported 3Q 2012 net sales of $1,102.8 million, operating profit of $86.1 million and net income attributable to Greif, Inc. of $40.7 million, or $0.70 per diluted Class A share, as the company said in the press release received by Lesprom Network. David B. Fischer, President and CEO, said, “Our 3Q operating performance was impacted by lower than expected volumes and the negative effect of foreign currency translation in our Rigid Industrial Packaging & Services and Flexible Products & Services segments, while the Paper Packaging segment achieved solid results. Contingency actions and Greif Business System initiatives implemented during the past year benefited our 3Q performance. Progress was also achieved through further acquisition integration that is positioning us for more profitable future growth. Free cash flow increased significantly for the third quarter and first nine months of 2012. We remain focused on our 2012 priorities while continuing to adapt promptly to changes in business and market conditions.” Net sales were $1,102.8 million for 3Q 2012 compared with $1,121.9 million for the same period in 2011. Sales volumes, including acquisitions, increased 5% but were more than offset by a negative 6 percent impact of foreign currency translation. 3Q 2012 selling prices were generally in line with the prior year with some variances among business segments. Operating profit was $86.1 million for 3Q 2012 compared with $107.6 million for the same period last year. This decrease was primarily due to lower results in Rigid Industrial Packaging & Services (-$9.5 million), Land Management (-$9.2 million) and Flexible Products & Services (-$6.3 million), partially offset by solid results in Paper Packaging ($3.5 million), compared with a year ago. Interest expense, net, was $22.7 million for 3Q 2012 compared with $18.4 million for 3Q 2011. The increase was primarily due to the higher level of debt outstanding related to acquisitions completed during the past year. Net income attributable to Greif, Inc. was $40.7 million, or $0.70 per diluted Class A share and $1.05 per diluted Class B share, for 3Q 2012 compared with net income of $66.9 million, or $1.14 per diluted Class A share and $1.72 per diluted Class B share, for 3Q 2011. EBITDA was $125.8 million and $138 million for the third quarters of 2012 and 2011, respectively. This decrease was primarily due to the same factors that impacted operating profit. Depreciation, depletion and amortization expense was $37.4 million for 3Q 2012 compared with $34.9 million for the same period last year. Greif is a world leader in industrial packaging products and services. The company produces steel, plastic, fibre, intermediate bulk, remanufactured and reconditioned rigid industrial containers as well as flexible containers, corrugated and multiwall containers and containerboard, and provide services such as blending, filling, packaging and recycling of industrial containers for a wide range of industries. The company also manages timber properties in North America and provide land management consulting services.