Libbey Posts Income Gain in Q4
February 9, 2011,
TOLEDO, Ohio-An increase in business-to-business and foodservice sales helped lift glassmaker Libbey's net income in the fourth quarter, which ended Dec. 31, 2010.
Libbey reported net income of $2.8 million in the fourth quarter, compared to a net loss of $7.1 million in the prior-year quarter. Sales in the quarter were $222.8 million, compared to $208.1 million in the fourth quarter of 2009. Sales to U.S. and Canadian retail customers decreased 2.5 percent from the all-time record set in the fourth quarter of 2009, the company said. Shipments of Syracuse China products increased 16.3 percent, sales to World Tableware customers increased 8.8 percent and Traex sales increased 0.6 percent during the quarter.