owens-illinois inc (OI) Snapshot

Owens-Illinois, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company’s net sales were $1,641 million against $1,739 million a year ago. Earnings from continuing operations before income tax were $117 million against $170 million a year ago. Earnings from continuing operations were $84 million against $126 million a year ago. Net earnings attributable to the company were $69 million against $121 million a year ago. Net earnings from continuing operations attributable to the company were $79 million against $122 million a year ago. Diluted earnings per share from continuing operations were $0.48 against $0.73 a year ago. Diluted earnings per share were $0.42 against $0.72 a year ago. Total cash utilized in operating activities was $136 million against $95 million a year ago. Additions to property, plant and equipment was $94 million against $73 million a year ago. Adjusted net earnings were $99 million or $0.60 per share against $122 million or $0.73 a year ago. The rise in capital expenditures partially attributed to the payment of year-end 2012 payables for engineering projects. Net debt as on March 31, 2013 was $3.5 billion. That's down nearly $300 million from a year ago. The company reaffirmed expectations for 2013 free cash flow at least $300 million and adjusted earnings $2.60 to $3.00 per share. For the year 2013, the company indicated total capital spending something in the neighborhood of $340 million, with an additional $100 million or so around restructuring. For the year 2015 the company believes that it can increase its adjusted earnings per share by 10% a year on average and increase its free cash flow more than $400 million.

Owens-Illinois, Inc. Presents at DbAccess Global Industrials and Basic Materials Conference: US Industrial Renaissance in Chicago, Jun-13-2013 09:20 AM. Venue: The Westin Chicago River North, 320 North Dearborn Street, Chicago, IL 60654, United States. Speakers: Stephen P. Bramlage, Chief Financial Officer, Principal Accounting Officer and Senior Vice President.

Owens-Illinois, Inc., Annual General Meeting, May 17, 2013., at 09:00 Eastern Daylight. Location: Plaza 2, at the O-I World Headquarters. Agenda: To approve the election of four directors, each to serve for a term of one year; to consider the ratification of the selection of Ernst & Young LLP as the company's independent registered public accounting firm for 2013; to approve advisory vote to approve named executive officer compensation; and to consider such other business as may properly be presented for action at the meeting or any postponement(s) or adjournment(s) thereof.