Ceramic Industry News

Oneida Reports Year-End Loss

Oneida Ltd. kept alive its 65-year streak of quarterly dividend payments, but cut the amount by half recently after posting a $1.3 million loss for the year. Oneida, the world's largest maker of flatware, lowered the dividend from 10 cents per share of common stock to 5 cents as part of its plans to revive shrinking profits. Company spokesman David Gymburch said the last time the dividend was reduced was in July 1986 when it fell from 20 cents to 10 cents. Company officials downplayed the dividend reduction and the bottom- line loss pointing to other signs that the 121-year-old company is recovering its financial health. Excluding the costs of restructuring and other one-time expenses, Oneida said it finished the year with income of $23.2 million, or $1.41 per share, while seeing its total sales rise 4% to nearly $516 million.

Faced with shrinking sales after years of prosperity, Oneida last year began to restructure itself after fending off a fierce buyout bid from its biggest rival, Libbey Inc. It closed plants in Italy and Canada and targeted up to 10% of its 4400 worldwide jobs for elimination. It also embarked on a massive inventory reduction plan to rid itself of poor-selling products, initiated an aggressive marketing program and introduced new patterns.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

2015 Ceramics Expo

Snapshots from the 2015 Ceramics Expo, April 28-30, Cleveland, Ohio. Posted: May 14, 2015.


Ceramics Expo podcast
Editor Susan Sutton discusses the upcoming Ceramics Expo with event director Adam Moore.
More Podcasts

Ceramic Industry Magazine

CI May 2015 cover

2015 May

Our May issue covers bulk batching, pneumatic conveyors, high-temperature furnaces and more! Be sure to check it out today.

Table Of Contents Subscribe

Daily News

We know where you find the latest ceramic industry news (ahem), but where do you catch up on the rest of your daily news?
View Results Poll Archive


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px


CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!