Libbey Net, Sales Increase in Q3
October 28, 2011,
TOLEDO, Ohio-Glassmaker Libbey more than tripled its net income in the third quarter on sales that increased 3.6 percent.
Net income was $7.1 million in the quarter ended Sept. 30, compared to net income of $2.3 million in the prior-year quarter. Sales for the quarter were $207.2 million, compared to $200.0 million in the third quarter of 2010.
Libbey CEO Stephanie A. Streeter said she was pleased with overall sales improvement, particularly in China, and was "encouraged" by the improved performance of the U.S. and Canadian retail and foodservice channels of distribution.