Ceramic Industry

Libbey Announces Fourth Quarter Results (2/20/07)

February 20, 2007

Libbey Inc. recently announced that its sales increased 34.8% to a record $213.4 million in the fourth quarter of 2006, up from $158.2 million in the prior year’s fourth quarter. Libbey reported a net loss of $8.5 million, or $0.60 per share, for the fourth quarter of 2006, compared to a net loss of $21.0 million, or $1.50 per share in the prior year quarter. Fourth quarter North American Glass sales increased 49.6% to $156.0 million.

For the 12 months ended December 31, 2006, sales increased 21.4% to $689.5 million, up from $568.1 million in 2005. North American Glass sales increased 30.6% to $476.7 million for the year. The increase in sales was primarily attributable to the consolidation of the sales of Crisa, the company’s former joint venture in Mexico, increases of more than 6% in shipments to foodservice glassware customers, and increases of over 9% to retail glassware customers. Shipments to industrial customers were down 7% during 2006.

Additional details are available at www.libbey.com.

Links