Glass tableware leader Libbey, Inc. announced that for the 3Q 2008 it expects income from operations to be approximately USD 14.6 million on increased sales of approximately USD 211.5 million. This is…
Glass tableware leader Libbey, Inc. announced that for the 3Q 2008 it expects income from operations to be approximately USD 14.6 million on increased sales of approximately USD 211.5 million. This is expected to result in earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately USD 24.5 million for the 3Q 2008 compared to prior given EBITDA guidance of USD 27.0 to USD 29.0 million. For the 4Q 2008, the company expects sales of USD 210 – 220.0 million and EBITDA of USD 20.5 – 23.5 million. Based on this forecast for the 4Q, the company expects fiscal 2008 sales of USD 833.0 – 843.0 million and EBITDA in the range of USD 97.0 – 100.0 million. Analysts had expected higher figures but global economic conditions lead to a revision in forecasts.