Ceramic Industry News

Libbey Second Quarter Sales Rise 5.4%

Libbey Inc. recently announced that its sales for the second quarter of 2011 were $214 million, compared to $203 million in the second quarter of 2010, an improvement of 5.4%. Libbey reported net income of $15.4 million for the quarter, compared to net income of $9.6 million in the prior-year quarter.

Sales in the Glass Operations segment were $194.5 million, an increase of 7.6% compared to $180.8 million in the second quarter of 2010. Primary contributors to the increased sales were a 58.5% increase in sales within the China sales region, a 28.6% increase in sales within the European sales region, and a 10.6% increase in sales within the International sales region. Sales to world tableware customers decreased 2.7% during the quarter, while sales to Syracuse China customers increased 16.8%.

Excluding special items of $4.9 million in income in the second quarter of 2011 and $1.9 million in expense in the 2010second quarter, Libbey had net income of $10.5 million during the second quarter of 2011, compared to net income of $11.5 million for the second quarter of 2010.

“We were pleased with the solid sales improvements we saw in the Glass Operations segment in the second quarter,” said John F. Meier, chairman and CEO. “Sales in China and Europe were particularly strong, and we were encouraged by the improved performance of the U.S. foodservice business in May and June. Adjusted EBITDA results were also solid, considering we had an all-time record adjusted EBITDA in the second quarter of 2010, and the second quarter of 2011 only included one month of results from Traex.”

For more information, visit www.libbey.com.

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

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

Multimedia

Videos

Image Galleries

December 2014 Issue Highlights

Our December 2014 issue is now available! Posted: April 27, 2015.

Podcasts

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

Ceramic Industry Magazine

CI April 2015 edition

2015 April

You'll want to check out our continuing coverage of the inaugural Ceramics Expo event, plus articles on dental ceramics, glass coatings, refractories, and more!

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

THE CERAMIC INDUSTRY STORE

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.

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px

Directories

CI Data Book July 2012

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