Exhibit 99.1

		Libbey Inc.
		300 Madison Ave
		P.O. Box 10060
		Toledo, OH 43699

N    E    W    S         R    E    L    E    A    S    E

AT THE COMPANY:
Kenneth Boerger
VP/Treasurer
(419) 325-2279

FOR IMMEDIATE RELEASE
WEDNESDAY, FEBRUARY 9, 2011

LIBBEY INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2010 RESULTS; ALSO ANNOUNCES INTENT TO REDEEM $40.0 MILLION OF ITS 10.0 PERCENT SENIOR SECURED NOTES DUE 2015

•		Fourth Quarter Net Sales of $222.8 Million, an Increase of 7.1 Percent Compared to $208.1 Million in the Prior-Year Quarter.
•		Sales to U.S. and Canadian Foodservice Customers Increase 8.6 Percent Compared to the Prior-Year Quarter.
•		Full-Year 2010 Sales of $799.8 Million, an Increase of 6.8 Percent Compared to the Prior Year.
•		Income from Operations of $19.2 Million in the Fourth Quarter of 2010 Compared to Income from Operations of $19.3 Million in the Prior-Year Quarter.
•		Adjusted EBITDA of $28.8 Million in the Fourth Quarter of 2010 Compared to $29.1 Million in the Fourth Quarter of 2009.
•		Record Free Cash Flow Generation of $49.4 Million in the Fourth Quarter of 2010.
•		Full-Year 2010 Income from Operations of $68.8 Million Compared to Income From Operations of $36.6 Million in 2009.
•		Full-Year 2010 Adjusted EBITDA of $115.0 Million Compared to $90.1 Million in 2009.
•		Calling for Redemption, on March 25, 2011, an Aggregate Principal Amount of $40.0 Million of its Outstanding Senior Secured Notes Due 2015.

TOLEDO, OHIO, FEBRUARY 9, 2011—Libbey Inc. (NYSE Amex: LBY) announced today that sales for the fourth quarter of 2010 were $222.8 million, compared to $208.1 million in the fourth quarter of 2009. Libbey reported net income of $2.8 million, or $0.13 per diluted share, for the fourth quarter ended December 31, 2010, compared to a net loss of $7.1 million, or $0.45 per diluted share, in the prior-year quarter.

Libbey Inc.
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Partial Redemption of Senior Notes

Libbey Inc. announced that its wholly owned subsidiary Libbey Glass Inc. is calling for redemption on March 25, 2011, an aggregate principal amount of $40.0 million of its outstanding 10.0 percent Senior Secured Notes Due 2015 (the “Notes”), on a pro rata basis in accordance with the terms of the indenture agreement dated February 8, 2010 (the “Indenture”). Pursuant to the terms of the Indenture, the redemption price for the Notes will be 103.0 percent of the principal amount of the redeemed Notes, plus accrued and unpaid interest. Following completion of the redemption, the aggregate principal amount of the Notes that will remain outstanding will be $360.0 million.

A formal notice of redemption will be sent separately to the holders of the Notes, in accordance with the terms of the Indenture. The Company plans to fund this redemption using cash on its balance sheet. This redemption is expected to result in a one-time charge for early extinguishment of debt in the Company’s 2011 first quarter of $2.8 million ($1.6 million of which is a non-cash charge), or approximately $0.14 cents per diluted share.

John Meier, chairman and chief executive officer, said, “We are pleased that as a result of our outstanding free cash flow generation of $49.4 million during the fourth quarter of 2010, we are in a position to reduce our outstanding debt by an additional $40 million. This follows our repayment of nearly $10 million of debt in China and Portugal during the fourth quarter of 2010. This $50 million of debt reduction represents significant progress in our ongoing efforts to reduce our leverage.”

Fourth Quarter Results

For the quarter-ended December 31, 2010, sales were $222.8 million, compared to $208.1 million in the year-ago quarter. Sales of the North American Glass segment were $158.6 million, an increase of 7.3 percent, compared to $147.8 million in the fourth quarter of 2009 (see Table 5). Primary contributors to the increased sales included an increase of 17.6 percent in sales to Business-to-Business customers within the U.S. and Canada, an increase in Crisa sales of 16.2 percent and an 8.6 percent increase in sales to U.S. and Canadian foodservice customers, compared to the prior-year quarter. Sales to U.S. and Canadian retail customers decreased 2.5 percent from the all-time record set in the fourth quarter of 2009. North American Other sales were $22.5 million, compared to $20.9 million in the prior-year quarter, as shipments of Syracuse China products increased 16.3 percent, sales to World Tableware customers increased 8.8 percent and Traex sales increased 0.6 percent during the quarter. International segment sales were $44.3 million, compared to $41.4 million in the year-ago quarter, as a result of 17.1 percent sales growth at Crisal in Portugal, 30.4 percent increase in sales at Libbey China and 0.8 percent increase in sales to Royal Leerdam customers.

The Company reported income from operations of $19.2 million during the quarter, compared to income from operations of $19.3 million in the year-ago quarter. Income from operations, excluding special items (see Table 1), was $19.9 million in the fourth

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quarter of 2010, compared to income from operations of $20.2 million during the fourth quarter of 2009.

Libbey reported earnings before interest and taxes (EBIT) of $19.5 million, compared to EBIT of $18.0 million in the year-ago quarter. The improved EBIT was the result of a $1.5 million gain on the redemption of debt. Adjusted EBIT (see Table 1) for the fourth quarter of 2010 was $18.7 million, compared to $18.8 million in the prior-year quarter. Adjusted EBIT (see Table 5) was $11.8 million for North American Glass, compared to adjusted EBIT of $14.2 million in the year-ago quarter. North American Other reported adjusted EBIT for the fourth quarter of 2010 of $4.0 million, compared to $5.3 million in the year-ago quarter. The International segment reported adjusted EBIT of $2.9 million, compared to adjusted loss before interest and taxes of $0.6 million in the fourth quarter of 2009.

Libbey reported that adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) (see Table 3) was $28.8 million for the fourth quarter, compared to $29.1 million in the fourth quarter of 2009.

Interest expense decreased by $2.6 million to $11.9 million, compared to $14.5 million in the year-ago period, as the fourth quarter of 2009 included $2.7 million in finance fees related to the PIK Note exchange transaction completed in 2009.

The effective tax rate was 63.5 percent for the quarter, compared to 307.7 percent in the year-ago quarter. The Company’s effective tax rate for the year-ago quarter was negatively impacted by a reversal of a $5.3 million benefit from required intra-period tax allocations between loss from continuing operations and other comprehensive income in the U.S. The effective tax rate for the current quarter was influenced by changes in valuation allowances and changes in the mix of earnings with differing statutory rates.

Libbey reported net income of $2.8 million, or $0.13 per diluted share, for the fourth quarter ended December 31, 2010, compared to a net loss of $7.1 million, or $0.45 per diluted share, in the prior year quarter. Excluding the special items of $0.9 million, the net income was $1.9 million (see Table 1) and diluted earnings per share were $0.09 for the fourth quarter ended December 31, 2010. This compares to a net loss excluding special items of $3.5 million and diluted loss per share of $0.22 in the year-ago quarter.

Twelve-Month Results

For the twelve months ended December 31, 2010, sales increased 6.8 percent to $799.8 million from $748.6 million in 2009. John F. Meier, chairman and chief executive officer, commenting on 2010 said, “Sales increases of 29.4 percent in China and 21.9 percent in Mexico led the way, while our U.S. and Canadian retail shipments had another solid year in 2010, as sales in this channel increased over six percent compared to 2009 and we grew our U.S. market share from 42.1 percent in 2009 to 46.6 percent in 2010. These factors, along with the continued benefits of some permanent cost reductions, allowed us to generate $115.0 million in adjusted EBITDA for the full year, compared to $90.1 million in 2009.”

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North American Glass sales increased 7.7 percent to $562.7 million from $522.6 million in 2009 (see Table 5). The increase in sales was primarily attributable to a 21.9 percent increase in sales to Crisa customers and a 6.2 percent increase in sales to U.S. and Canadian retail glassware customers. North American Other sales decreased 1.2 percent to $86.0 million from $87.0 million in 2009, as shipments of Syracuse China products declined 14.1 percent, sales of World Tableware products increased 6.4 percent and Traex sales were even with the prior year. International sales increased 12.2 percent to $162.7 million from $145.0 million as the result of increased sales at Libbey China of 29.4 percent, 12.8 percent higher sales at Crisal and an increase in sales of 10.8 percent at Royal Leerdam.

Libbey reported income from operations of $68.8 million during 2010, compared to income from operations of $36.6 million for 2009. Adjusted income from operations, excluding special items (see Table 2), was $74.0 million for the full year 2010, compared to $43.4 million in 2009. Primary contributors to the improvement in adjusted income from operations were higher sales and lower natural gas costs.

Earnings before interest and taxes (EBIT) were $126.8 million for 2010, compared to EBIT of $40.7 million in 2009. The improvement in EBIT was primarily a result of the $58.3 million gain on redemption of debt in 2010 and of the higher income from operations. Adjusted EBIT (see Table 2) for 2010 was $73.8 million, compared to $47.7 million for the full year 2009. Adjusted EBIT (see Table 5) was $54.9 million for North American Glass, compared to $36.9 million in 2009. The North American Other segment had adjusted EBIT for 2010 of $15.1 million, compared to $13.6 million in 2009. The International segment reported adjusted EBIT of $3.9 million, compared to adjusted loss before interest and taxes of $2.9 million in 2009.

For the twelve months ended December 31, 2010, adjusted EBITDA (see Table 3) was $115.0 million, compared to $90.1 million during 2009. This resulted in an adjusted EBITDA margin of 14.4 percent, which was the highest adjusted EBITDA margin since 2003.

Interest expense decreased $21.5 million compared to the year-ago period. Contributing to the decrease in interest expense were lower interest rates and lower debt.

The effective tax rate was 14.2 percent for 2010, compared to a negative 10.6 percent in 2009. The rate was influenced principally by changes in valuation allowances and the mix of earnings with differing statutory rates.

The Company recorded net income of $70.1 million, or $3.51 per diluted share for 2010, compared to a net loss of $28.8 million, or $1.90 per diluted share, in the year-ago period. The Company reported that its adjusted net income was $17.1 million and its adjusted net income per diluted share for the full year 2010, as detailed in the attached Table 2, was $0.86 per diluted share. This compares to the adjusted net loss of $19.1 million and adjusted diluted loss per share of $1.26 in 2009.

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Working Capital and Liquidity

As of December 31, 2010, working capital, defined as inventories and accounts receivable less accounts payable, increased by $10.3 million to $181.2 million from $170.9 million at December 31, 2009, as higher sales resulted in increased receivables and inventories were also increased in order to service the higher demand. Working capital as a percentage of net sales was 22.6 percent in 2010, which compares to working capital as a percentage of 2009 net sales of 22.8 percent.

Free cash flow, as detailed in the attached Table 4, was a source of $49.4 million in the fourth quarter of 2010, compared to a source of $31.7 million in the fourth quarter of 2009. This represents the highest free cash flow during the fourth quarter in the Company’s history. The primary contributors were lower cash interest payments and larger reductions in receivables and inventories during the 2010 fourth quarter, compared to the prior-year quarter. This was partially offset by higher capital expenditures in the fourth quarter of 2010.

Libbey reported that it had available capacity of $65.2 million under its Asset Backed Loan (ABL) credit facility as of December 31, 2010, and cash on hand of $76.3 million. This compares to availability of $79.2 million and cash on hand of $55.1 million at December 31, 2009.

Webcast Information

Libbey will hold a conference call for investors on Wednesday, February 9, 2011, at 11 a.m. Eastern Standard Time. The conference call will be simulcast live on the Internet and is accessible from the Investor Relations section of www.libbey.com. To listen to the call, please go to the website at least 10 minutes early to register, download and install any necessary software. A replay will be available for 30 days after the conclusion of the call.

This press release includes forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements only reflect the Company’s best assessment at this time and are indicated by words or phrases such as “goal,” “expects,” “ believes,” “will,” “estimates,” “anticipates,” or similar phrases. Investors are cautioned that forward-looking statements involve risks and uncertainty and that actual results may differ materially from these statements, and that investors should not place undue reliance on such statements. These forward-looking statements may be affected by the risks and uncertainties in the Company’s business. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission filings, including the Company’s report on Form 10-K filed with the Commission on March 15, 2010. Important factors potentially affecting performance include but are not limited to increased competition from foreign suppliers endeavoring to sell glass tableware in the United States and Mexico; the impact of lower duties for imported products; global economic conditions and the related impact on consumer spending levels; major slowdowns in the retail, travel or entertainment industries in the United States, Canada, Mexico, Western Europe and Asia, caused by terrorist attacks or otherwise; significant increases in per-unit costs for natural gas, electricity, corrugated packaging, and other purchased materials; higher indebtedness

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related to the Crisa acquisition; higher interest rates that increase the Company’s borrowing costs or volatility in the financial markets that could constrain liquidity and credit availability; protracted work stoppages related to collective bargaining agreements; increases in expense associated with higher medical costs, increased pension expense associated with lower returns on pension investments and increased pension obligations; devaluations and other major currency fluctuations relative to the U.S. dollar and the Euro that could reduce the cost competitiveness of the Company’s products compared to foreign competition; the effect of high inflation in Mexico and exchange rate changes to the value of the Mexican peso and the earnings and cash flow of Crisa, expressed under U.S. GAAP; the inability to achieve savings and profit improvements at targeted levels in the Company’s operations or within the intended time periods; and whether the Company completes any significant acquisition and whether such acquisitions can operate profitably. Any forward-looking statements speak only as of the date of this press release, and the Company assumes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date of this press release.

Libbey Inc.:

•		is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world;
•		is expanding its international presence with facilities in China, Mexico, the Netherlands and Portugal;
•		is the leading manufacturer of tabletop products for the U.S. foodservice industry; and
•		supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries.

Based in Toledo, Ohio, since 1888, Libbey operates glass tableware manufacturing plants in the United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands. Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in Mexico and Latin America. Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among the world leaders in producing and selling glass stemware to retail, foodservice and industrial clients. Its Crisal subsidiary, located in Portugal, provides an expanded presence in Europe. Its Syracuse China subsidiary designs and distributes an extensive line of high-quality ceramic dinnerware, principally for foodservice establishments in the United States. Its World Tableware subsidiary imports and sells a full-line of metal flatware and holloware and an assortment of ceramic dinnerware and other tabletop items principally for foodservice establishments in the United States. Its Traex subsidiary, located in Wisconsin, designs, manufactures and distributes an extensive line of plastic items for the foodservice industry. In 2010, Libbey Inc.’s net sales totaled $799.8 million.

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per-share amounts)
(unaudited)

		Three Months Ended December 31,
		2010				2009
Net sales		$	222,847			$	208,078
Freight billed to customers			479				442
Total revenues			223,326				208,520
Cost of sales (1)			178,906				163,334
Gross profit			44,420				45,186
Selling, general and administrative expenses (1)			24,512				25,201
Special charges (1)			714				657
Income from operations			19,194				19,328
Gain on redemption of debt (1)			1,500				—
Other expense (1)			(1,190	)			(1,371	)
Earnings before interest and income taxes			19,504				17,957
Interest expense(1)			11,928				14,543
Income before income taxes			7,576				3,414
Provision for income taxes			4,813				10,506
Net income (loss)		$	2,763			$	(7,092	)
Net income (loss) per share:
Basic		$	0.14			$	(0.45	)
Diluted		$	0.13			$	(0.45	)
Weighted average shares:
Outstanding			19,865				15,810
Diluted			20,604				15,810

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per-share amounts)
(unaudited)

		Twelve Months Ended December 31,
		2010				2009
Net sales		$	799,794			$	748,635
Freight billed to customers			1,790				1,605
Total revenues			801,584				750,240
Cost of sales (1)			633,571				617,095
Gross profit			168,013				133,145
Selling, general and administrative expenses (1)			97,390				94,900
Special charges (1)			1,802				1,631
Income from operations			68,821				36,614
Gain on redemption of debt (1)			58,292				—
Other (expense) income (1)			(274	)			4,053
Earnings before interest and income taxes			126,839				40,667
Interest expense(1)			45,171				66,705
Income (loss) before income taxes			81,668				(26,038	)
Provision for income taxes			11,582				2,750
Net income (loss)		$	70,086			$	(28,788	)
Net income (loss) per share:
Basic		$	3.97			$	(1.90	)
Diluted		$	3.51			$	(1.90	)
Weighted average shares:
Outstanding			17,668				15,149
Diluted			19,957				15,149

LIBBEY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

		December 31, 2010				December 31, 2009
		(unaudited)
ASSETS
Cash & cash equivalents		$	76,258			$	55,089
Accounts receivable — net			92,101				82,424
Inventories — net			148,146				144,015
Other current assets			6,437				8,484
Total current assets			322,942				290,012
Pension asset			12,767				9,454
Goodwill and purchased intangibles — net			192,474				193,181
Property, plant and equipment — net			270,397				290,013
Other assets			20,391				8,854
Total assets		$	818,971			$	791,514
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Notes payable		$	—			$	672
Accounts payable			59,095				55,539
Accrued liabilities			83,298				69,763
Pension liability (current portion)			2,330				1,984
Nonpension postretirement benefits (current portion)			5,017				4,363
Other current liabilities			7,281				7,921
Long-term debt due within one year			3,142				9,843
Total current liabilities			160,163				150,085
Long-term debt			443,983				504,724
Pension liability			115,521				119,727
Nonpension postretirement benefits			67,737				64,780
Other liabilities			20,301				19,105
Total liabilities			807,705				858,421
Common stock, treasury stock, capital in excess of par value and warrants			300,889				254,161
Accumulated deficit			(178,677	)			(205,344	)
Accumulated other comprehensive loss			(110,946	)			(115,724	)
Total shareholders’ equity (deficit)			11,266				(66,907	)
Total liabilities and shareholders’ equity (deficit)		$	818,971			$	791,514

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Dollars in thousands)
(unaudited)

		Three Months Ended December 31,
		2010				2009
Operating activities:
Net income (loss)		$	2,763			$	(7,092	)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			10,121				10,291
(Gain) loss on asset disposals			—				214
Change in accounts receivable			17,757				8,303
Change in inventories			10,564				8,784
Change in accounts payable			4,183				9,826
Accrued interest and amortization of discounts, warrants and finance fees			10,596				(2,053	)
Gain on redemption of PIK Notes			(1,500	)			—
Pension & nonpension postretirement benefits			1,412				2,619
Restructuring charges			484				109
Accrued liabilities & prepaid expenses			(1,292	)			(9,128	)
Accrued income taxes			911				9,406
Other operating activities			2,533				5,140
Net cash provided by operating activities			58,532				36,419
Investing activities:
Additions to property, plant and equipment			(9,125	)			(4,718	)
Proceeds from asset sales and other			—				5
Net cash used in investing activities			(9,125	)			(4,713	)
Financing activities:
Net repayments on ABL credit facility			—				(3,121	)
Other repayments			(9,641	)			—
Debt issuance costs and other			1,289				(4,171	)
Net cash used in financing activities			(8,352	)			(7,292	)
Effect of exchange rate fluctuations on cash			(365	)			27
Increase in cash			40,690				24,441
Cash at beginning of period			35,568				30,648
Cash at end of period		$	76,258			$	55,089

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Dollars in thousands)
(unaudited)

		Twelve Months Ended December 31,
		2010				2009
Operating activities:
Net income (loss)		$	70,086			$	(28,788	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			41,115				43,166
Loss on asset disposals			343				323
Change in accounts receivable			(11,210	)			(6,430	)
Change in inventories			(6,654	)			40,834
Change in accounts payable			4,955				3,828
Accrued interest and amortization of discounts, warrants and finance fees			17,391				12,945
Accrual of interest on PIK notes			—				11,916
Gain on redemption of PIK Notes			(71,693	)			—
Payment of interest on PIK Notes			(29,400	)			—
Call premium on floating rate notes			8,415				—
Write-off of bank fees & discounts on old ABL and floating rate notes			4,986				—
Pension & nonpension postretirement benefits			5,200				5,331
Restructuring charges			3,507				(1,728	)
Accrued liabilities & prepaid expenses			3,344				14,920
Accrued income taxes			1,801				(93	)
Other operating activities			5,513				5,924
Net cash provided by operating activities			47,699				102,148
Investing activities:
Additions to property, plant and equipment			(28,247	)			(17,005	)
Call premium on floating rate notes			(8,415	)			—
Proceeds from asset sales and other			—				265
Net cash used in investing activities			(36,662	)			(16,740	)
Financing activities:
Net repayments on ABL credit facility			—				(34,169	)
Other repayments			(10,610	)			(5,225	)
Other borrowings			215				—
Floating rate note payments			(306,000	)			—
PIK Note payment			(51,031	)			—
Proceeds from senior secured notes			392,328				—
Debt issuance costs and other			(14,199	)			(4,171	)
Net cash provided by (used in) financing activities			10,703				(43,565	)
Effect of exchange rate fluctuations on cash			(571	)			(58	)
Increase in cash			21,169				41,785
Cash at beginning of period			55,089				13,304
Cash at end of period		$	76,258			$	55,089

In accordance with the SEC’s Regulation G, tables 1, 2, 3, 4 and 5 provide non-GAAP measures used in this earnings release and a reconciliation to the most closely related Generally Accepted Accounting Principle (GAAP) measure. Libbey believes that providing supplemental non-GAAP financial information is useful to investors in understanding Libbey’s core business and trends. In addition, it is the basis on which Libbey’s management assesses performance. Although Libbey believes that the non-GAAP financial measures presented enhance investors’ understanding of Libbey’s business and performance, these non-GAAP measures should not be considered an alternative to GAAP.

Table 1
Reconciliation of “As Reported” results to “As Adjusted” results — Quarter
(Dollars in thousands, except per-share amounts)
(unaudited)

		Three Months Ended December 31,
		2010												2009
		As Reported				Special Items				As Adjusted				As Reported				Special Items				As Adjusted
Net sales		$	222,847			$	—			$	222,847			$	208,078			$	—			$	208,078
Freight billed to customers			479				—				479				442				—				442
Total revenues			223,326				—				223,326				208,520				—				208,520
Cost of sales			178,906				(3	)			178,909				163,334				(23	)			163,357
Gross profit			44,420				3				44,417				45,186				23				45,163
Selling, general and administrative expenses			24,512				(49	)			24,561				25,201				235				24,966
Special charges			714				714				—				657				657				—
Income from operations			19,194				(662	)			19,856				19,328				(869	)			20,197
Gain on redemption of debt			1,500				1,500				—				—				—				—
Other expense			(1,190	)			—				(1,190	)			(1,371	)			(19	)			(1,352	)
Earnings before interest and income taxes			19,504				838				18,666				17,957				(888	)			18,845
Interest expense			11,928				—				11,928				14,543				2,700				11,843
Income before income taxes			7,576				838				6,738				3,414				(3,588	)			7,002
Provision for income taxes			4,813				—				4,813				10,506				—				10,506
Net income (loss)		$	2,763			$	838			$	1,925			$	(7,092	)		$	(3,588	)		$	(3,504	)
Net income (loss) per share:
Basic		$	0.14			$	0.04			$	0.10			$	(0.45	)		$	(0.23	)		$	(0.22	)
Diluted		$	0.13			$	0.04			$	0.09			$	(0.45	)		$	(0.23	)		$	(0.22	)
Weighted average shares:
Outstanding			19,865												15,810
Diluted			20,604												15,810

		Three Months Ended December 31, 2010																Three Months Ended December 31, 2009
						Equity								Total				Pension												Total
		Restructuring				Offering								Special				Settlement				Restructuring				Finance				Special
Special Items Detail-(income) expense:		Charges(1)				Fees(2)				Other(3)				Items				Charge(4)				Charges(1)				Fees(5)				Items
Cost of sales		$	(12	)		$	—			$	9			$	(3	)		$	—			$	(23	)		$	—			$	(23	)
SG&A			—				(49	)			—				(49	)			235				—				—				235
Special charges			714				—				—				714				—				657				—				657
Gain on redemption of debt			—				(1,500	)			—				(1,500	)			—				—				—				—
Other expense			—				—				—				—				—				19				—				19
Interest expense			—				—				—				—				—				—				2,700				2,700
Total Special Items		$	702			$	(1,549	)		$	9			$	(838	)		$	235			$	653			$	2,700			$	3,588

Table 2
Reconciliation of “As Reported” results to “As Adjusted” results — Twelve Months
(Dollars in thousands, except per-share amounts)
(unaudited)

		Twelve Months Ended December 31,
		2010												2009
		As Reported				Special Items				As Adjusted				As Reported				Special Items				As Adjusted
Net sales		$	799,794			$	—			$	799,794			$	748,635			$	—			$	748,635
Freight billed to customers			1,790				—				1,790				1,605				—				1,605
Total revenues			801,584				—				801,584				750,240				—				750,240
Cost of sales			633,571				2,317				631,254				617,095				1,960				615,135
Gross profit			168,013				(2,317	)			170,330				133,145				(1,960	)			135,105
Selling, general and administrative expenses			97,390				1,047				96,343				94,900				3,190				91,710
Special charges			1,802				1,802				—				1,631				1,631				—
Income from operations			68,821				(5,166	)			73,987				36,614				(6,781	)			43,395
Gain on redemption of debt			58,292				58,292				—				—				—				—
Other (expense) income			(274	)			(130	)			(144	)			4,053				(232	)			4,285
Earnings before interest and income taxes			126,839				52,996				73,843				40,667				(7,013	)			47,680
Interest expense			45,171				—				45,171				66,705				2,700				64,005
Income (loss) before income taxes			81,668				52,996				28,672				(26,038	)			(9,713	)			(16,325	)
Provision for income taxes			11,582				—				11,582				2,750				—				2,750
Net income (loss)		$	70,086			$	52,996			$	17,090			$	(28,788	)		$	(9,713	)		$	(19,075	)
Net income (loss) per share:
Basic		$	3.97			$	3.00			$	0.97			$	(1.90	)		$	(0.64	)		$	(1.26	)
Diluted		$	3.51			$	2.66			$	0.86			$	(1.90	)		$	(0.64	)		$	(1.26	)
Weighted average shares:
Outstanding			17,668												15,149
Diluted			19,957												15,149

		Twelve Months Ended December 31, 2010																				Twelve Months Ended December 31, 2009
		Gain on								Equity Offering								Total				Pension												Total
		PIK				Restructuring				and Finance								Special				Settlement				Restructuring				Finance				Special
Special Items Detail-(income) expense:		Notes(1)				Charges(2)				Fees(3)				Other(4)				Items				Charge(5)				Charges(2)				Fees(3)				Items
Cost of sales		$	—			$	566			$	—			$	1,751			$	2,317			$	—			$	1,960			$	—			$	1,960
SG&A			—				—				1,047				—				1,047				3,190				—				—				3,190
Special charges			—				1,802				—				—				1,802				—				1,631				—				1,631
Gain on redemption of debt			(70,193	)			—				11,901				—				(58,292	)			—				—				—				—
Other expense			—				130				—				—				130				—				232				—				232
Interest expense			—				—				—				—				—				—				—				2,700				2,700
Total Special Items		$	(70,193	)		$	2,498			$	12,948			$	1,751			$	(52,996	)		$	3,190			$	3,823			$	2,700			$	9,713

Table 3
Reconciliation of Net Income (Loss) to Earnings Before Interest, Taxes,
Depreciation and Amortization (EBITDA) and Adjusted EBITDA
(Dollars in thousands)

		Three Months Ended December 31,								Twelve Months ended December 31,
		2010				2009				2010				2009
Reported net income (loss)		$	2,763			$	(7,092	)		$	70,086			$	(28,788	)
Add:
Interest expense			11,928				14,543				45,171				66,705
Provision for income taxes			4,813				10,506				11,582				2,750
Depreciation and amortization			10,121				10,291				41,115				43,166
EBITDA			29,625				28,248				167,954				83,833
Add:
Special Items before interest and taxes			(838	)			888				(52,996	)			7,013
Less: Depreciation expense included in Special Items and also in Depreciation and Amortization above			—				—				—				(705	)
Adjusted EBITDA		$	28,787			$	29,136			$	114,958			$	90,141

Table 4

Reconciliation of Net Cash provided by Operating Activities to Free Cash Flow
and Adjusted Free Cash Flow
(Dollars in thousands)

		Three Months Ended December 31,								Twelve Months ended December 31,
		2010				2009				2010				2009
Net cash provided by operating activities		$	58,532			$	36,419			$	47,699			$	102,148
Capital expenditures			(9,125	)			(4,718	)			(28,247	)			(17,005	)
Proceeds from asset sales and other			—				5				—				265
Free Cash Flow			49,407				31,706				19,452				85,408
Payment of cash interest on PIK Notes			—				—				29,400				—
Adjusted Free Cash Flow		$	49,407			$	31,706			$	48,852			$	85,408

Table 5
Summary Business Segment information
(Dollars in thousands)

		Three months ended December 31,								Twelve months ended December 31,
		2010				2009				2010				2009
Net Sales:
North American Glass		$	158,570			$	147,772			$	562,653			$	522,575
North American Other			22,508				20,861				85,996				87,041
International			44,304				41,360				162,685				145,023
Eliminations			(2,535	)			(1,915	)			(11,540	)			(6,004	)
Consolidated Net Sales		$	222,847			$	208,078			$	799,794			$	748,635
Adjusted Earnings before Interest & Taxes (EBIT):
North American Glass		$	11,829			$	14,168			$	54,918			$	36,931
North American Other			3,984				5,259				15,071				13,611
International			2,853				(582	)			3,854				(2,862	)
Consolidated Adjusted EBIT		$	18,666			$	18,845			$	73,843			$	47,680
Adjusted Depreciation & Amortization: (1)
North American Glass		$	6,027			$	5,949			$	24,277			$	24,806
North American Other			173				222				743				1,347
International			3,921				4,120				16,095				16,308
Consolidated Adjusted Depreciation & Amortization		$	10,121			$	10,291			$	41,115			$	42,461

Special Items — (income) expense: (2)
North American Glass		$	1,183			$	2,867			$	(54,151	)		$	5,903
North American Other			666				721				1,155				3,810
International			(2,687	)			—				—				—
Consolidated Special Items		$	(838	)		$	3,588			$	(52,996	)		$	9,713

Reconciliation of Adjusted EBIT to Net Income (Loss):
Segment Adjusted EBIT		$	18,666			$	18,845			$	73,843			$	47,680
Special Items before interest and taxes			838				(888	)			52,996				(7,013	)
Interest Expense			(11,928	)			(14,543	)			(45,171	)			(66,705	)
Income Taxes			(4,813	)			(10,506	)			(11,582	)			(2,750	)
Net Income (Loss)		$	2,763			$	(7,092	)		$	70,086			$	(28,788	)

Note:
North American Glass—includes sales of glass tableware from subsidiaries throughout the United States, Canada and Mexico.

North American Other—includes sales of ceramic dinnerware, metal tableware, holloware and serveware and plastic items.

International—includes worldwide sales of glass tableware from subsidiaries outside the United States, Canada and Mexico.