Libbey - 1997 Figures

Reporting a decline in sales to select mass merchants that was partially offset by the benefits of recent acquisitions, Libbey Inc, of the US, announced that its diluted earnings per share for the fourth quarter of 1997 declined to US$0.58 (US$0.65). The earnings per share were consistant with the estimate announced by the company on 9 January 1998. For the full year, the company registered record sales and profits. The US glassmaker also said it had decided to leave the factory outlet mall business, since most of its factory outlet stores have been operating at a loss. For the fourth quarter ended 31 December 1997, sales increased 8.5% to US$124.7m from US$115m in the year-earlier quarter.