Libbey Inc. reported on 14 February 2008 a 4Q 2007 loss of USD 5 million, or USD 0.34 a share, compared to a loss of USD 8.5 million, or USD 0.60 a share, in the year-ago period.
Excluding a tax-rela…
Libbey Inc. reported on 14 February 2008 a 4Q 2007 loss of USD 5 million, or USD 0.34 a share, compared to a loss of USD 8.5 million, or USD 0.60 a share, in the year-ago period. Excluding a tax-related charge, the company said 4Q 2007 adjusted income rose to USD 0.71. The mean estimate of analysts polled by Thomson Financial was for a loss of USD 0.04 cents a share in the 4Q 2007. Revenue for the Toledo, Ohio-based maker of tableware products rose 5.5% to USD 225.1 million from USD 213.4 million a year earlier. Libbey attributed the increase in revenue to a 5% growth of Crisa product sales and a 9.5% increase in shipments to US and Canadian customers. For the 1Q 2008, the company forecasts sales in the range of USD 185 million to USD 190 million. Earnings before interest, taxes, depreciation and amortization are forecast at USD 20 million to USD 22 million. For 2008, Libbey sees sales of USD 850 million to USD 870 million and EBITDA in the range of USD 113 million to USD 123 million.