Libbey Inc has reported second quarter 2012 sales of $209.2 million, compared to $214.0 million the previous year.
Sales in the glass operations segment were $190.5 million, compared to $194.5 million in the second quarter of 2011; a decrease of 2.0%. Sales performance was led by a 24.2% increase in sales within the Chinese sales region.
Income from operations (IFO) grew 17.2%, compared to the second quarter of 2011, increasing to $29.0 million from $24.7 million in the year-ago quarter.
“We are encouraged by these results, driven by our efforts to increase productivity and control costs as well as the solid sales growth we achieved in select markets,” said Stephanie Streeter, Chief Executive Officer (CEO).
“Sales were particularly strong in glass operations in the USA and Canada, and in China. On the other hand, sales were disappointing in Mexico and Europe,” she added.
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Libbey Inc reports second quarter 2012 results
Published 27th July, 2012 by Nadine Firth
