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new balance shoes review 2011 earnings outlook cut NEENAH, Wis. (AP) Bemis Co.'s secondquarter net income slipped 9 percent, stung by higher costs for raw materials. The flexiblepackaging maker also cut its fullyear adjusted earnings outlook and gave a thirdquarter adjusted earnings forecast below analysts' expectations. Bemis reported on Wednesday that it earned $54.3 million, or 51 cents per share, for the quarter, compared with $59.6 million, or 54 cents per share, a year earlier. This beat the 50 cents per share that analysts surveyed by FactSet predicted. The performance was also in range of the company's quarterly guidance for earnings between 48 cents and 54 cents per share. Revenue for the three months ended June 30 climbed 8 percent to $1.37 billion from $1.27 billion, helped by favorable currency exchange rates. The results met analysts' expectations. The flexible packaging division reported an 8.1 percent revenue increase, while the pressure sensitive materials unit posted a 5.8 percent rise in revenue. Bemis lowered its fullyear earnings outlook to a range of $2.08 to $2.18 per share, anticipating weaker demand and stabilizing raw material costs during the second half of the year. Its previous guidance was for earnings between $2.15 and $2.30 per share. Analysts predict earnings of $2.20 per share for the year. For the third quarter, Bemis foresees adjusted earnings between 56 cents and 61 cents per share. Analysts expect earnings of 63 cents per share. Its shares fell 82 cents, or 2.4 percent, to $32.84 in afternoon trading. The shares have traded between $28.06 and $34.40 over the past year. Yahoo News Originals Strange Celebrity Products: Would you wear Spiderman cologne? (Video) Federal government shuts down for the first time in 17 years as Congress continues to debate Obama to troops: You deserve better than dysfunctional Congress GOP Rep. Peter King: 'Ted Cruz should be blamed' if government shuts down Obama: Government shutdown 'entirely preventable' if House GOP drops demands The story behind that weird ricin plot is even weirder than previously thought Breast cancer survivor posts timelapse video of treatment Documentary tells the real story of the man who inspired 'Dog Day Afternoon' Kitten refuses to let go of pizza Obama: 'Not at all' resigned to government shutdown