Apr 17, 2009. /Lesprom Network/. Sonoco's 1Q net income more than doubled from year-earlier results that were hampered by charges, but the packaging company projected earnings for the current period will be below analysts' expectations because volumes remain weak, as Dow Jones Newswires informed Lesprom Network. Chairman and CEO Harris E. DeLoach Jr. said industrial markets were particularly weak in the 1Q. As such, he said the company's continued move toward consumer-related markets, which are less cyclical, is paying off as the segment had record earnings in the quarter, up 9%. Sonoco expects 2Q earnings of 34 cents to 38 cents a share, while analysts surveyed by Thomson Reuters projected 41 cents. The company also cut the high end of its full-year target range by 15 cents, putting the new range at $1.55 to $1.70. Meanwhile, Sonoco reported 1Q net income of $23.1 million, or 23 cents a share, compared with $8.9 million, or 13 cents a share, a year earlier. Excluding restructuring costs and write-downs, earnings fell to 29 cents from 54 cents. Sonoco in January projected 28 cents to 32 cents, well below analysts' then-estimates. Revenue dropped 23% to $800.6 million. Analysts most recently had an average estimate of $899 million. Gross margin fell to 17.6% from 18% amid the sales woes as higher prices and lower commodity costs offset much of that impact. Consumer-packaging sales fell 9% while the segment whose operations include various paper and tube products reported a 34% slump. Sonoco is a global manufacturer of industrial and consumer products and provider of packaging services.