Dana, Libbey show higher returns for 2nd quarter

7/30/2010

Dana Holding Corp. and Libbey Inc., two large Toledo-area firms, on Thursday reported stronger profits and higher revenue for the second quarter.

Dana said it had a profit of $9 million for the quarter, compared to breaking even during the same period a year ago. Per share, the profit was less than a penny this year, compared with a loss of 8 cents last year. Sales for the second quarter were $1.5 billion, up from $1.2 billion a year earlier.

The Maumee automotive parts maker said it had a loss of $22 million for the first half of the year, down from a loss of $157 million for the period a year ago.

Dana's investors had little reaction to the report, as its stock rose 4 cents to close yesterday at $11.60 on the New York Stock Exchange.

Libbey said it had a quarterly profit of $9.6 million, or 47 cents a share, up from $2.7 million, or 18 cents a share, for the period a year ago.

The Toledo tableware maker said its sales for the quarter were $203 million, up from $196 million a year ago.

Libbey's shares dropped 69 cents in trading yesterday to close at $11.50.