said Tuesday it expects income for the first quarter and full year to drop below Wall Street's expectations due to shortcomings in sales to export, retail and industrial customers.
The supplier of glassware, dinnerware and flatware said it expects to earn 24 cents to 28 cents in the first quarter. Five analysts polled by
First Call/Thomson Financial
were calling for the company to earn 41 cents in the quarter. It earned 41 cents in the year-ago period.
The company expects sales of $90 million to $93 million for the quarter. Full-year earnings are expected to be $3.10 to $3.20, short of the $3.24 Wall Street was projecting. It earned $3.01 last year. The company will report earnings around April 25.
Shares of Libbey, which is based in Toledo, Ohio, fell 91 cents, or 2.9%, to $30.59 in recent
New York Stock Exchange