UPDATE: Owens-Illinois Posts Better-Than-Expected Q4 Profit
Owens-Illinois (NYSE: OI) posted a narrower fourth-quarter loss.
Owens-Illinois posted a quarterly loss of $160 million, or $0.97 per share, versus a year-ago loss of $771 million, or $4.69 per share. Excluding one-time items, it earned $0.40 per share.
Its net sales declined 3.9% to $1.75 billion. However, analysts were estimating earnings of $0.37 per share on revenue of $1.75 billion.
Its gross margin narrowed to 15.9% from 16.7%.
Owens-Illinois shares gained 4.31% to $23.74 in after-hours trading.
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