According to Marketwatch, Libbey reported 1st quarter results yesterday. Sales for the first quarter were $187.8 million, compared to $181.0 million for the first quarter of 2011, an increase of 3.8 percent (or 5.3 percent excluding currency fluctuation). Income from operations grew 39.6 percent, compared to the first quarter of 2011, increasing to $14.9 million from $10.7 million in the year-ago quarter. Net income of $0.6 million, or $0.03 per diluted share, was reported for the first quarter, compared to a net loss of $1.0 million, or a net loss of $0.05 per diluted share, in the year-ago quarter
Libbey sales to U.S. and Canadian foodservice glassware customers increased by 10.3 percent. Glassware sales to U.S. and Canadian business-to-business customers increased 4.3 percent during the first quarter of 2012, while sales to retail customers in the U.S. and Canada were essentially flat.
To read the entire article and learn more of Libbey’s Q1 2012 results, go here:
http://www.marketwatch.com/story/libbey-inc-announces-first-quarter-2012-financial-results-2012-04-27
To see the entire collection of Libbey products for the foodservice business, go here: http://www.libbey.com/
