Sealed Air Corp. announced Thursday a fourth-quarter net income that beat analyst expectations, but its stock fell by more than 9 percent due to missing expectations on sales.

The Charlotte-based packaging company reported net income of $171.1 million, or 76 cents per share, compared to net income of $124 million, or 62 cents per share, a year ago. Earnings beat analysts expectations of 75 cents.

However, fourth quarter revenue of $1.74 billion was less than the $1.78 billion in revenue that Wall Street expected, sending its stock down. Sealed Air shares were trading at $45.58 in afternoon trading, down $4.64, or 9.24 percent.

The company reported a 2 percent increase in sales for the quarter.

Jerome A. Peribere, president and chief executive officer, said Sealed Air introduced an “unprecedented number” of new solutions to customers globally that led to demand for its protein packaging, hygiene and e-commerce solutions.

“Similar to our third quarter, these positive trends were offset by unfavorable currency, challenging business environments in emerging countries and Australia, and softness in the industrial market,” Peribere said. “We are confident the underlying fundamentals of our strategy are intact and expect accelerated top line growth and profitability improvements in 2017.”

For the year, the company reported profit of $486.4 million, or $2.46 per share. Revenue was listed as $6.78 billion.

Founded in 1960, Sealed Air is a packaging company known for its brands Cryovac food packaging, Bubble Wrap cushioning and Diversey cleaning and hygiene.

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