US glassmaker O-I said at the end of October that its profit was up almost 10% in Q3, as it saw demand for wine, food & spirits increase. Looking ahead, Chairman/CEO Al Stroucken said a recent Venezuelan government decree for the expropriation of O-I operations in the Latin American nation, (less than 5% of the company's global segment operating profit), would probably affect the company's Q4 results. The company reported net income of US$ 138.7M, or 84 cents a share, for the quarter ended 30 September, compared to US$ 126.7M, or 74 cents a share, in the same period of 2009. According to the company, excluding charges related to acquisition costs, write-downs on inventory & other special items, adjusted earnings amounted to 90 cents a share, versus a profit of 95 cents a share, in the same period of last year.
