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Libbey Q1 profit climbs YOY

Libbey Inc. said its first-quarter normalized net income came to 14 cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS rose year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.1 million, a gain from $421,250 in the prior-year period.

The normalized profit margin rose to 1.7% from 0.2% in the year-earlier period.

Total revenue grew year over year to $188.0 million from $182.4 million, and total operating expenses climbed from the prior-year period to $179.6 million from $173.6 million.

Reported net income came to $3.1 million, or 14 cents per share, compared to a loss of $3.4 million, or a loss of 16 cents per share, in the year-earlier period.