Libbey Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company's net sales were $181,913,000, compared to $172,994,000 for the first quarter of 2016. Total revenue was $182,670,000 compared to $173,670,000 a year ago. Income from operations was $2,147,000 compared to loss of $2,135,000 a year ago. Income before interest and income taxes was $40,000 compared to loss of $4,921,000 a year ago. Loss before income taxes was $5,044,000 compared to $9,788,000 a year ago. Net loss was $2,961,000 compared to $6,570,000 a year ago. Diluted net loss per share was $0.13 compared to $0.30 a year ago. Net cash used in operating activities was $13,144,000 compared to $6,314,000 a year ago. Additions to property, plant and equipment was $11,271,000 compared with $11,952,000 a year ago. Adjusted EBITDA was $11,919,000 compared to $6,234,000 a year ago. Free cash flow was negative $24,415,000 against $18,266,000 a year ago.

For the six months ending June 30, 2018, the company expects net loss margin (U.S. GAAP) to be in the range of 0.7% to net income margin (U.S. GAAP) of 0.3%, interest expense to be 2.8%, provision for income tax to be 0.4%, depreciation and amortization to be 6.0% and adjusted EBITDA Margin (non-GAAP) to be in the range of 8.5% to 9.5%. The company expects net sales increase in the low-single digits, when compared to the first half of 2017, on a reported basis and adjusted EBITDA margins of 8.5% to 9.5%.

For the year ending December 31, 2018, the company expects net income margin (U.S. GAAP) to be in the range of 0.7% to 1.2%, interest expense to be 2.7%, provision for income tax to be in the range of 0.9% to 1.4%, depreciation and amortization to be 5.7% and adjusted EBITDA Margin (non-GAAP) to be in the range of 10.0% to 11.0%. The company expects net sales increase in the low-single digits, compared to full-year 2017, on a reported basis, capital expenditures in the range of $50 million to $55 million and selling, general and administrative expense around 17% of net sales.