Libbey, The Andersons report for 2nd quarter

7/25/2002

Toledo's Libbey, Inc., reported second-quarter profit yesterday of $4.9 million, or 31 cents a share, a decline of more than 65 percent from $14.1 million, or 91 cents a share, for the same period a year ago. Expenses related to the abandoned Anchor Hocking acquisition attempt totaled $13.6 million before taxes, or 56 cents a share.

The glassware and dinnerware company said it had sales for the quarter ending June 30 of $114.1 million, up nearly 6 percent from $108.1 million for the period a year ago. Libbey has authorized the repurchase of 935,600 shares.

Maumee's The Andersons, Inc., reported a second-quarter profit yesterday of $8.8 million, or $1.17 a share, up nearly 21 percent from $7.3 million, or 99 cents a share, for the same period a year ago.

The agribusiness company said it had sales for the quarter ending June 30 of $301.1 million, up more than 10 percent from $273.1 million for the period a year ago.

AKRON - FirstEnergy Corp., parent of Toledo Edison and other utilities in Ohio and the Northeast, reported yesterday that second-quarter profit rose 60 percent, to $233.3 million, or 79 cents a share, from $146 million, or 67 cents a share a year ago.

Revenue rose 61 percent to $2.9 billion from $1.8 billion a year ago.

The company credited its earnings gain to revenues from GPU, Inc., a 2 million-customer New Jersey utility FirstEnergy purchased for $16 billion in November.

The quarter's results included $46 million, or 9 cents a share, in expenses related to repair of the reactor cap at the Davis-Besse nuclear plant in Oak Harbor.