Libbey (LBY) Misses Q1 EPS by 5c
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Libbey Inc. Announces First Quarter 2016 Financial Results
April 28, 2016 7:45 AM EDTTOLEDO, Ohio, April 28, 2016 /PRNewswire/ -- Libbey Inc. (NYSE MKT: LBY), one of the largest glass tableware manufacturers in the world, today reported results for the first quarter ended March 31, 2016.
First Quarter Financial Highlights
Net sales for first quarter 2016 were $182.8 million, compared to $187.4 million in first quarter 2015, a decrease of 2.4 percent (or an increase of 0.5 percent excluding currency fluctuation). Net income for first quarter 2016 was $0.7 million, compared to net income of $3.1 million in the prior-year first quarter. Adjusted net income (see Table 1) for first quarter 2016 was $3.6 million, flat compared to... More