Owens-Illinois Reports 10% Increase In Third Quarter Earnings Per Share

Ohio based Owens-Illinois has reported net earnings of US$69.4m, or $0.44 per share (diluted) for the third quarter of 2001, which represents a 10% increase in earnings per share over the third quarter of 2000, when the company reported net earnings, excluding unusual items, of $63.9m or $0.40 per share (diluted). Net sales in the third quarter amounted to $1,360bn, compared to $1.430bn in the year before. This decline in sales was principally due to foreign currency effects and the absence of revenues from the company's former labels business, which was sold in the first quarter of 2001.