Last €24.99 EUR
Change Today -0.157 / -0.62%
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As of 2:00 AM 12/23/14 All times are local (Market data is delayed by at least 15 minutes).

libbey inc (LB7) Snapshot

Open
€24.99
Previous Close
€25.15
Day High
€24.99
Day Low
€24.99
52 Week High
12/22/14 - €25.15
52 Week Low
01/14/14 - €14.23
Market Cap
541.5M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
21.7M
EX-Date
02/11/09
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for LIBBEY INC (LB7)

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libbey inc (LB7) Details

Libbey Inc. manufactures and markets glass tableware products worldwide. It offers glass tableware products comprising tumblers, stemware, mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and various other items; glass bakeware; handmade glass tableware; and other glass products for original equipment manufacturers, including blender jars and washing machine windows. The company also provides ceramic dinnerware products, such as plates, bowls, platters, cups, saucers, and other tableware accessories; metal flatware consisting of knives, forks, spoons and serving utensils; and metal hollowware comprising serving trays, pitchers, and other metal tableware accessories, as well as a line of ceramic dinnerware. In addition, it distributes Luigi Bormioli glassware in the United States, Canada, and Mexico to foodservice users; Spiegelau fine stemware and other drinkware assortments; and Nachtmann upscale serveware, decorative products, stemware, and drinkware for finer dining establishments. Libbey Inc. offers its products under Libbey, Crisa, Royal Leerdam, World Tableware, Syracuse China, and Crisal Glass brand names. The company markets its products to foodservice distributors, mass merchants, department stores, retail distributors, national retail chains, specialty housewares stores, candle and food packers, decorators, breweries, distilleries, craft industries, gourmet food-packing companies, and customers using glass containers for candle and floral applications. Libbey Inc. was founded in 1818 and is headquartered in Toledo, Ohio.

6,437 Employees
Last Reported Date: 03/12/14
Founded in 1818

libbey inc (LB7) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $743.8K
Chief Financial Officer and Vice President
Total Annual Compensation: $360.5K
Vice President, General Counsel, Secretary an...
Total Annual Compensation: $314.8K
Vice President of Human Resources
Total Annual Compensation: $299.0K
Vice President and General Manager of Us & Ca...
Total Annual Compensation: $360.6K
Compensation as of Fiscal Year 2013.

libbey inc (LB7) Key Developments

Libbey Inc. Announces Auditor Changes

The Audit Committee of the Board of Directors of Libbey Inc. conducted a comprehensive, competitive process to determine the company's independent registered public accounting firm for the company's fiscal year ended December 31, 2015. On November 17, 2014, the Audit Committee approved the dismissal of Ernst & Young LLP and approved the engagement of Deloitte & Touche LLP (D&T) as the company's independent registered public accounting firm for the Company's fiscal year ended December 31, 2015. The dismissal of EY will become effective upon issuance by EY of its reports on the consolidated financial statements as of and for the year ended December 31, 2014 and the effectiveness of internal control over financial reporting as of December 31, 2014.

Libbey Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year 2014

Libbey Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, net sales were $215,957,000 against $204,386,000 a year ago. Total revenues were $216,888,000 against $205,310,000 a year ago. Income from operations was $20,742,000 against $13,996,000 a year ago. Earnings before interest and income taxes were $22,082,000 against $13,290,000 a year ago. Income before income taxes was $17,285,000 against $5,584,000 a year ago. Net income was $13,758,000 or $0.62 per diluted share against $4,749,000 or $0.21 per diluted share a year ago. Net cash provided by operating activities was $19,073,000 against $34,767,000 a year ago. Additions to property, plant and equipment was $16,693,000 against $10,381,000 a year ago. EBITDA was $31,651,000 against $25,063,000 a year ago. Adjusted EBITDA was $31,651,000 against $28,650,000 a year ago. Segment EBIT was $29,325,000 against $21,325,000 a year ago. Consolidated adjusted EBIT was $22,082,000 against $16,877,000 a year ago. The primary factors contributing to the improvement in adjusted EBITDA from the prior-year quarter include higher sales and the realization of savings of approximately $4.6 million from the recently completed North American capacity realignment, partially offset by the nearly $3.0 million impact of lower production activity related to an earlier-than-planned furnace repair, higher input costs for natural gas, packaging and electricity of $1.2 million, nearly $2.0 million in increased freight costs, as well as increased selling and marketing expenses. For the nine months, net sales were $621,074,000 against $597,766,000 a year ago. Total revenues were $623,712,000 against $600,213,000 a year ago. Income from operations was $53,744,000 against $53,429,000 a year ago. Earnings before interest and income taxes were $7,893,000 against $49,821,000 a year ago. Loss before income taxes was $10,091,000 against income before income taxes of $25,554,000 a year ago. Net loss was $14,794,000 or $0.68 per basic and diluted share against net income of $19,174,000 or $0.87 per diluted share a year ago. Net cash provided by operating activities was $17,057,000 against $31,472,000 a year ago. Additions to property, plant and equipment was $38,528,000 against $30,152,000 a year ago. EBITDA was $38,730,000 against $83,991,000 a year ago. Adjusted EBITDA was $92,788,000 against $96,821,000 a year ago. Segment EBIT was $83,946,000 against $80,812,000 a year ago. Consolidated adjusted EBIT was $61,951,000 against $64,350,000 a year ago. Adjusted income from operations was $60,611,000 against $65,440,000 a year ago. Adjusted earnings before interest and income taxes were $61,951,000 against $64,350,000 a year ago. Adjusted income before income taxes was $43,967,000 against $40,083,000 a year ago. Adjusted net income was $38,923,000 or $1.76 per diluted share against $31,832,000 or $1.45 per diluted share a year ago. For the fourth quarter of 2014, the company expects to deliver sales growth and adjusted EBITDA margins similar to the third quarter of 2014. The company expects to generate a significant amount of free cash flow during the fourth quarter as a result of working capital reductions of at least $25 million and receipt of approximately $10 million in insurance proceeds related to a claim for a furnace malfunction in 2013. Additionally, the company will continue to realize lower interest expense during the fourth quarter of 2014, similar to the $2.9 million reduction in the third quarter of 2014. The company revised down the CapEx guidance for 2014 from $53 million to $55 million. Revised focus on marketing and sales, innovation and superior customer service, will position the company well to realize solid results for the full year of 2014, with revenue growth of approximately 4% and adjusted EBITDA margins close to 15%. The company expects depreciation and amortization for the full year 2014 to be between $40 million and $41 million.

Daniel P. Ibele to Retire as Vice President, General Manager, U.S. and Canada, and as an Officer of Libbey Inc

On or about March 31, 2015, Daniel P. Ibele will retire as Vice President, General Manager, U.S. and Canada, and as an officer of Libbey Inc. Mr. Ibele will remain actively employed by Libbey as a strategic consultant for a period of one year from the date on which he retires as Vice President, General Manager, U.S. and Canada, at which point he will retire from the company after more than 32 years of service to Libbey.

 

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