Libbey (LBY) Releases Earnings Results, Misses Expectations By $-0.13 EPS

Libbey (LBY) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $0.40 earnings per share for the quarter, missing the analyst consensus estimate by $-0.13. Analysts had a consensus of $0.53. The company posted revenue of $207.90 million in the period, compared to analysts expectations of $213.55 million. The company’s revenue was down -2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Libbey closed down -0.11 points or -0.59% at $18.69 with 1,02,217 shares getting traded on Tusday. Post opening the session at $18.79, the shares hit an intraday low of $18.53 and an intraday high of $18.84 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Investors should note that on Jul 26, 2016, Libbey announced a cash dividend of $0.1150. The company’s management has announced Aug 5, 2016 as the ex-dividend date and fixed the record date on Aug 9, 2016. The payable date has been fixed on Aug 23, 2016.

In a different news, on Aug 1, 2016, Timothy T Paige (Vice President-Human Resources) sold 2,293 shares at $18.57 per share price. According to the SEC, on May 4, 2016, Salvador Minarro (VP, General Mgr US & Canada) sold 7,000 shares at $17.58 per share price. On Apr 29, 2016, Susan A Kovach (VP,General Counsel & Secretary) sold 3,110 shares at $18.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Libbey Inc. is a manufacturer and marketer of glass tableware products. The Company produces glass tableware in five countries and sells to customers in over 100 countries. The Company designs and markets its products under its Libbey Crisa Royal Leerdam World Tableware Syracuse China and Crisal Glass brand names among others. The Company operates the following segments: Americas which includes global sales of manufactured and sourced glass tableware having an end market destination in North and South America; EMEA which includes global sales of manufactured and sourced glass tableware having an end market destination in Europe the Middle East and Africa; U.S. Sourcing which includes the United States sales of sourced ceramic dinnerware metal tableware hollowware and serveware and Other which includes worldwide sales of manufactured and sourced glass tableware having an end market destination in Asia Pacific.

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