Libbey Posts $2.3 Million Net Income for Q3
October 20, 2010,
TOLEDO, Ohio-Libbey reported net income of $2.3 million for the third quarter ended September 30, 2010. This compares to net income of $3.5 million in the prior-year quarter.
Excluding special items of $2.4 million, Libbey had net income of $4.7 million for the third quarter of 2010. The special items in the third quarter of 2010 included a write-down of decorating assets at the Company's Shreveport, Louisiana, facility and fees related to the secondary stock offering completed in August 2010, for which no proceeds were received.
"We were pleased with the solid sales improvements we saw in both the North American glass and international segments in the third quarter as well as quarterly year-over-year improvement in sales in North American Other for the first time in 2010," said John Meier, chairman and chief executive officer.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.