Libby Inc. reports 2010 sales increase; profit

Libbey Inc. reported sizable gains in sales and an annual and fourth-quarter profit in 2010, with sales up 7% to USD 800 million, up from USD 749 million the previous year, while 2010 profit was USD 7…

Libbey Inc. reported sizable gains in sales and an annual and fourth-quarter profit in 2010, with sales up 7% to USD 800 million, up from USD 749 million the previous year, while 2010 profit was USD 70.1 million, or USD 3.51 a share, compared with a loss of USD 28.8 million, or USD 1.90 a share, for 2009. The company reported a 29% sales increase in China and a 21% increase in Mexico, and solid“ gains in the US and Canada. Libbey said that for its fourth quarter, sales rose 7% to USD 208 million. It reported a quarterly profit of USD 2.8 million, or 13 cents a share, compared with a loss of USD 7.1 million, or 45 cents a share, for the same period in 2009.