Libbey Inc. announced that Richard I. Reynolds, Executive Vice President, Strategy Program Management, has elected to retire after more than 43 years of service, by December 31, 2013. Mr. Reynolds will continue to serve as a member of the Board of Directors of the Company until its 2014 annual meeting of shareholders.

The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net sales of $204,386,000 compared to $209,150,000 a year ago. Income from operations was $13,996,000 compared to $24,322,000 a year ago. Earnings before interest and income taxes were $13,290,000 compared to $24,127,000 a year ago. Income before income taxes was $5,584,000 compared to $15,407,000 a year ago. Net income was $4,749,000 compared to $14,861,000 a year ago. Diluted net income per share was $0.21 compared to $0.70 a year ago. Net cash provided by operating activities was $34,767,000 compared to $27,889,000 a year ago. Additions to property, plant and equipment was $10,381,000 compared to $5,412,000 a year ago. Adjusted income from operations was $17,583,000 compared to $28,108,000 a year ago. Adjusted Income before income taxes was $9,171,000 compared to $19,193,000 a year ago. Adjusted net income was $7,360,000 or $0.33 per diluted share compared to $18,621,000 or $0.87 per diluted share a year ago. Adjusted EBITDA of $28.7 million was $9.3 million less than the $38 million reported in the prior-year quarter. The primary factors contributing to the decline in adjusted EBITDA were the under absorption of fixed costs and weaker consumer demand than anticipated.

For the nine months, the company reported net sales of $597,766,000 compared to $606,226,000 a year ago. Income from operations was $53,429,000 compared to $68,221,000 a year ago. Earnings before interest and income taxes were $49,821,000 compared to $36,787,000 a year ago. Income before income taxes were $25,554,000 compared to $7,702,000 a year ago. Diluted net income per share was $0.87 compared to $0.25 a year ago. Net cash provided by operating activities was $31,472,000 compared to net cash used in operating activities of $43,630,000 a year ago. Additions to property, plant and equipment was $30,152,000 compared to $17,244,000 a year ago. Adjusted income from operations was $65,440,000 compared to $72,007,000 a year ago. Adjusted Income before income taxes was $40,083,000 compared to $42,563,000 a year ago. Adjusted net income was $31,832,000 or $1.45 per diluted share compared to $40,194,000 or $1.89 per diluted share a year ago.

The company provided earnings guidance for the full year of 2013. For the full year, the company expects to deliver adjusted EBITDA margins in line with 2012 on slightly lower 2013 sales. The company still expects CapEx to be in the range of $46 million to $50 million. Depreciation and amortization amounted to $11.8 million in the third quarter of 2013 versus $10.1 million in the third quarter of 2012.