* Q2 EPS $0.81 vs est $0.76
* Q2 sales fell 10 pct to $1.77 billion
July 25 Glass-container manufacturer
Owens-Illinois Inc reported a better-than-expected
quarterly profit, helped in part by cost cutting in its North
American operations, but it warned of a lower adjusted profit
The Perrysburg, Ohio-based company forecast a weak
third-quarter on lower European demand and said it was reducing
its capital spending for the remainder of the year.
The company now expects at least $250 million of free cash
flow in 2012.
For the second-quarter, the company posted net earnings from
continuing operations of $134 million, or 81 cents per share, up
from $71 million, or 42 cents per share, a year earlier.
Net sales fell 10 percent to $1.77 billion.
Analysts, on average, had expected earnings of 76 cents, on
revenue of $1.92 billion, according to Thomson Reuters I/B/E/S.
Shares of the company were trading up 2 percent in
after-market trade at $19.00. They had closed at $18.62 on
Wednesday on the New York Stock Exchange.