Ceramic Industry News / Glass

Libbey’s Second Quarter Sales Down 2%; Glassware Sales Up

Libbey Inc. recently reported results for the second quarter ended June 30, 2012. Sales for the second quarter were $209.2 million, compared to $214.0 million for the second quarter of 2011, a decrease of 2.2%. Sales in the Glass Operations segment were $190.5 million, down 2% compared to $194.5 million in the second quarter of 2011. Sales performance was reportedly led by a 24.2% increase in sales within the company’s China sales region and a 5.9% increase in sales within the U.S. and Canada sales region. Sales within Mexico were down 12.9%.

Sales to U.S. and Canadian foodservice glassware customers increased by 5.1%. Glassware sales to U.S. and Canadian retail customers increased 7.2% during the second quarter of 2012, while sales to business-to-business customers in the U.S. and Canada increased 5.5%.

“We are encouraged by these results, driven by our efforts to increase productivity and control costs, as well as the solid sales growth we achieved in select markets,” said Stephanie A. Streeter, CEO. “Our sales were particularly strong in glass operations in the U.S. and Canada, and in China. On the other hand, sales were disappointing in Mexico and Europe. Despite this reasonably strong quarter, we have a lot of work to do to sustain performance and secure our future. The strategic plan we announced earlier this month will strengthen and build upon the efforts to improve our cost structure, leverage our advantaged businesses and strengthen our balance sheet.”

For additional 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

October 2014 Issue Highlights

Our October 2014 issue is now available!

Posted: January 29, 2015

Podcasts

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

Ceramic Industry Magazine

CI March 2015 cover

2015 March

We're focusing on thermal processes and decorating in this issue. Check it out!

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!