Libbey Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported, net sales of $207,902,000, total revenues of $208,564,000, income from operations of $19,738,000, earnings before interest and income taxes of $20,540,000, income before income taxes of $15,386,000, net income of $8,695,000, net cash provided by operating activities of $36,308,000 compared to net sales of $214,051,000, total revenues of $214,786,000, income from operations of $20,500,000, earnings before interest and income taxes of $21,346,000, income before income taxes of $16,808,000, net income of $14,394,000, net cash provided by operating activities of $27,742,000 for the same period a year ago. Diluted earnings per share were $0.40 against $0.65 a year ago. During the quarter, the company invested $5.7 million in CapEx, compared to $16.6 million in the second quarter of 2015.

For the year to date, the company reported, net sales of $390,709,000, total revenues of $391,989,000, income from operations of $25,577,000, earnings before interest and income taxes of $26,364,000, income before income taxes of $15,966,000, net income of $9,413,000, net cash provided by operating activities of $31,334,000, additions to property, plant and equipment of $15,511,000, compared to net sales of $401,416,000, total revenues of $402,757,000, income from operations of $28,596,000, earnings before interest and income taxes of $30,269,000, income before income taxes of $21,208,000, net income of $17,506,000, net cash provided by operating activities of $14,506,000, additions to property, plant and equipment of $33,236,000, for the same period a year ago. Diluted earnings per share were $0.43 against $0.78 a year ago.

For the twelve months ending December 31, 2016, the company reconfirms its expected adjusted EBITDA margin of approximately 14% on lower expected net sales. Due to the challenging competitive and macroeconomic environment, the company now expects net sales to be down 1% to 2% year over year on a reported basis. The company expects net income margin (U.S. GAAP) of 3%. Adjusted selling, general and administrative expense as a percent of net sales is expected to be in the low 15% range for the full year. Cash flow outlook assumptions are mostly unchanged. The company expects capital expenditures to be at the low end of the range of $50 million to $55 million.