UPDATE: Owens-Illinois Posts Better-Than-Expected Q4 Profit

Owens-Illinois

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.