Libbey: 3Q 2004 loss due to plant closure charges

Glass tableware producer Libbey Inc. said 21 October 2004 that charges associated with the closure of a California plant forced the company to post a loss in the 3Q 2004, compared with year-ago earnin…

Glass tableware producer Libbey Inc. said 21 October 2004 that charges associated with the closure of a California plant forced the company to post a loss in the 3Q 2004, compared with year-ago earnings. The company reported a loss of USD 3.2 million, or USD 0.23 per share, compared with earnings of USD 12 million, or USD 0.88 per share, a year ago. Excluding expenses associated with the planned closure of its City of Industry, California, plant in February 2005, the company posted profits of USD 4.7 million, or USD 0.34 per share, in the latest quarter. Analysts were looking for Libbey to post operating earnings of USD 0.36 per share in the 3Q 2004. Sales increased 2.1% to USD 131.8 million from USD 129.1 million in the year-ago quarter.