logo
Share SHARE
FONT-SIZE Plus   Neg

Libbey Turns To Profit In Q1

Libbey Inc. (LBY) reported first-quarter net income of $0.6 million or $0.03 per share, compared to a net loss of $1.0 million or $0.05 per share last year.

Net sales for the quarter rose to $187.8 million from $181.0 million a year ago.

The company also announced that its subsidiary, Libbey Glass Inc., plans to call for redemption of an aggregate principal amount of $40.0 million of its outstanding 10.0 percent senior secured notes due 2015 prior to the second quarter.

The company plans to fund this redemption using cash on its balance sheet and/or borrowings under its Asset Backed Loan credit facility. This redemption is expected to result in a one-time charge of $2.2 million or about $0.10 per share in the second quarter for early extinguishment of debt.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
They say there's plenty of fish in the sea, but very few of them are as wealthy as these tycoons. May be they have been so busy building their empires they never had the time to stick with a perfect partner to build their family. This list of the richest singles is assorted — from a 34 year-old... Anthony Levandowski, the head of Uber's self-driving division, is stepping away from his role as Uber continues a legal battle with Waymo, Levandowski's former employer. Levandowski, who founded startup Otto, became head of Uber's Advanced Technologies Group or ATG after Otto was acquired by Uber in August 2016. Southwest Airlines Co. has decided to end the practice of overbooking flights, the airline's CEO Gary Kelly said Thursday. The airline's plan to end overbooking could be implemented from May 8, according to a Southwest spokeswoman.
comments powered by Disqus
Follow RTT