Libbey Achieves Record Sales in 2012
Libbey Inc. recently reported results for the fourth quarter and full year of 2012. Sales for the fourth quarter were $219.1 million, compared to $214.8 million for the fourth quarter of 2011, an increase of 2%.
Sales in the Glass Operations segment were $201.3 million, compared to $199.2 million in the fourth quarter of 2011, an increase of 1.1%. Sales performance was reportedly led by a 5% increase in sales within the U.S. and Canada sales region.
Full-year sales for 2012 were $825.3 million, compared to $817.1 million in 2011, an increase of 1%. Sales in the Glass Operations segment were $753 million, an increase of 0.9% compared to $746.6 million in 2011.
“We are pleased with this quarter’s results, driven in large part by the increased focus on improving margins and defending and growing our business in our key markets, the core of our recently announced strategic plan,” said Stephanie A. Streeter, CEO. “Our cost improvements, coupled with solid sales growth in the U.S. and Canada sales region, led to exceptionally strong adjusted EBITDA. Four strong quarters propelled us to 2012 full year results that included all-time records in sales, income from operations and adjusted EBITDA.”
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