Owens-Illinois posts $56.6 million third-quarter operating earnings

By Caroline Salls

Pittsburgh, Nov. 9 - Owens Illinois, Inc. reported $56.6 million in third-quarter operating earnings on net sales of $1.81 billion, according to a 10-Q filing with the Securities and Exchange Commission.

The numbers reflect a decrease in operating earnings from the same period in 2004, when the company reported operating earnings of $73.1 million on net sales of $1.72 billion.

However, the net earnings for the third quarter of 2005 were $119.6 million, up from net earnings of $76.4 million in the third quarter of 2004.

For the nine months ended Sept. 30, the company reported operating earnings of $260.3 million on net sales of $5.32 billion, compared to operating earnings of $204.2 million on net sales of $4.40 billion for the first nine months of 2004.

Cash on Sept. 30 was $190.3 million, compared to $277.9 million at Dec. 31, 2004 and $262.1 million at Sept. 30, 2004.

Owens-Illinois is a Toledo, Ohio, manufacturer of packaging products.

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