The Company
reported that its diluted earnings per share for the quarter, as detailed in
the attached Table 2, and excluding the special charges as detailed in the
attached Table 1, were 25 cents as compared with 68 cents in the prior-year
quarter.3 million from $258. Partially offsetting these increases were lower
glassware shipments to foodservice, retail and industrial customers.3 million from $171.libbey.corporate-ir. 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.68
Diluted $(0.

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dinnerware smyth

Second Quarter Results
For the quarter-ended June 30, 2005, sales increased 6.9 million, or $0.4 million of working capital associated with Crisal.
Excluding Crisal, inventories at June 30, 2005, were $3.net/phoenix.
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, including the impact of lower
duties for imported products; major slowdowns in the retail, travel or
entertainment industries in the United States, Canada, Mexico and Western
Europe, caused by terrorist attacks or otherwise; significant increases in
per-unit costs for natural gas, electricity, corrugated packaging, and other
purchased materials; higher interest rates that increase the Company's
borrowing costs; 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.0%
Freight billed to customers 978 1,055
Total revenues 275,300 259,930

Cost of sales (1) 227,205 204,692
Gross profit 48,095 55,238 (12.L.

glazed shinju

We have made great strides with the very successful addition of the Vera Wang
Silver and Gift brand along with new product offerings within our core product
groups.5 million, as compared with
earnings per share of 68 cents and sales of $135.8 million in the year-ago quarter.3 million as the result of lower interest rates. Eastern Daylight Time .
(2) All non-cash charges
(3) Summary classifications:

Cost of sales $867 $867
Selling, general and administrative
expenses 1,347 1,347
Special charges 4,197 7,194
Total special charges $6,411 $9,408

Table 2
Reconciliation of Non-GAAP Financial Measures for Special Charges
(Dollars in thousands, except per-share amounts)

In accordance with the SEC's Regulation G, the following table provides
non-GAAP measures used in the earnings release and the reconciliation to
the most closely related Generally Accepted Accounting Principles (GAAP)
measure.

Three months ended Six months ended
June 30, June 30,
2005 2004 2005 2004

Reported net (loss ) income $(870) $9,365 $(2,519) $9,930
Special charges - net of tax 4,295 - 6,303 -
Net income excluding special charges $3,425 $9,365 $3,784 $9,930

Diluted (loss) earnings per share:
Reported net (loss) income $(0.06) $0. and Canada.

thrown quixotic

Sales to foodservice glassware
customers were down slightly.

0 percent to
$274.73 per diluted share, in the year-ago
period. Libbey reported that its diluted earnings per share for the first six
months of 2005, as detailed in the attached Table 2, and excluding special
charges as detailed in the attached Table 1, were 27 cents as compared with 73
cents in the first six months of the prior-year." He added, "We plan
to break ground in China on our new production facility during the third
quarter. 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.
In addition, in June 2005 , Libbey reduced its North American salaried
workforce by seven percent in order to reduce Libbey 's overall cost
profile.6%)
Equity (loss) earnings -- pretax (198) 67
Other income 732 1,087

Earnings before interest , income
taxes and minority interest 3,114 21,913 (85. de R.C.

manatees sudio

Investors are cautioned that forward-
looking statements involve risks and uncertainty, that actual results may
differ materially from such statements, and that investors should not place
undue reliance on such statements.

Based in Toledo, Ohio, the Company operates glass tableware manufacturing
plants in the United States in Louisiana and Ohio, in Portugal and in the
Netherlands.73

LIBBEY INC.

nigrosh scuplture

Syratech Names Hunt and Kanter Co-CEOs

Pretax equity loss from Vitrocrisa, the Company's joint venture in Mexico,
was $0.

Six-Month Results
For the six months ended June 30, 2005, sales increased 6.
To listen to the call , please go to the website at least 10 minutes early
to register, download and install any necessary software.

Three Months Six Months
ended ended
June 30, 2005 June 30, 2005

Capacity realignment:
Fixed asset related $372 $520
Severance + benefits - 2,019
Miscellaneous 475 1,305
Included in Special charges (1) $847 $3,844

Salary reduction program:
Pension + retiree welfare $867 $867
Included in Cost of sales 867 867

Pension + retiree welfare 1,347 1,347
Included in Selling, general and
administrative expenses 1,347 1,347

Employee termination costs 3,350 3,350
Included in Special charges 3,350 3,350

Pretax salary reduction program (2) $5,564 $5,564

Total Special charges (3) $6,411 $9,408

(1) Cash charges for the capacity realignment project for the quarter
ended and year-to-date June 30, 2005, were $4,155 and $5,896,
respectively.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

June 30, December 31, June 30,
2005 2004 2004
(unaudited) (unaudited)

ASSETS

Cash $2,540 $6,244 $2,355

Accounts receivable - net 72,637 67,522 63,380

Inventories - net 139,860 126,625 134,297

Deferred taxes 8,747 7,462 7,402

Other current assets 5,884 3 ,308 3,545

Total current assets 229,668 211,161 210,979

Other assets 37,912 36,537 28,395

Investments 82,122 82,125 87,754

Goodwill and purchased intangibles -
net 66,671 66,003 65,204

Property , plant and equipment - net 209,477 182,378 174,183

Total assets $625,850 $578,204 $566,515

LIABILITIES AND SHAREHOLDERS' EQUITY

Notes payable $12,200 $9,415 $14,142

Accounts payable 42,219 43,140 35,625

Accrued liabilities 49,788 38,996 44,359

Deposit liability 16,623 16,623 -

Special charges reserve 4,491 3,025 -

Other current liabilities 2,475 5,839 5,254

Long-term debt due within one year 825 115 115

Total current liabilities 128,621 117,153 99,495

Long-term debt 246,653 215,842 223,685

Deferred taxes 12,147 12,486 15,467

Pension liability 42,068 36,466 22,680

Nonpension postretirement benefits 46,052 45,716 46,986

Other liabilities 7,263 6,978 7,032
Total liabilities 482,804 434,641 415,345

Minority interest 21 - -

Total liabilities and minority
interest 482,825 434,641 415,345

Total shareholders' equity 143,025 143,563 151,170

Total liabilities and shareholders'
equity $625,850 $578,204 $566,515

LIBBEY INC.S.

glazed anagama

He has extensive
experience in corporate restructuring as well as strategic business plan
development, acquisition profiling, and the management of corporate
organizations and manufacturing operations.8 million to $170. Meier, chairman and chief executive officer, commenting on the
quarter and the Company's outlook for 2005 said, "Second quarter results were
in line with our updated guidance in our June 28, 2005, release. 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 the
Company's joint venture in Mexico, Vitrocrisa, expressed under U.68 $0.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Dollars in thousands )
(unaudited)

THREE MONTHS ENDED
June 30, 2005 June 30, 2004

Operating activities
Net (loss) income $(870 ) $9,365
Adjustments to reconcile net (loss)
income to net cash provided
by operating activities:
Depreciation and amortization 8,066 7,631
Equity loss (earnings) - net of tax 444 (1,058)
Minority interest 4 -
Change in accounts receivable 197 (7,105)
Change in inventories (791) (5,432)
Change in accounts payable 3,748 783
Special charges 6,411 -
Special charges cash payments (4,155) -
Other operating activities 9,588 6,294
Net cash provided by
operating activities 22,642 10,478

Investing activities
Additions to property, plant and
equipment (8 ,709) (8,859)
Crisal acquisition and related costs (42) -
Net cash used in investing activities (8,751) (8,859)

Financing activities
Net bank credit facility activity (8,756) (5,000)
Other net borrowings (3,429) 6,602
Stock options exercised - 88
Dividends (1,386) (1,366)
Other 25 (838)
Net cash used in financing activities (13,546) (514)

Increase in cash 345 1,105
Cash at beginning of period 2,195 1,250

Cash at end of period $2,540 $2,355

LIBBEY INC.

sinks sajo

With over 25 years of experience in the tabletop industry, Kanter has been
instrumental in developing Syratech into an industry leader in the tabletop,
housewares and home decor segments.2 million as compared to June 30,
2004 and includes $11.68 $(0.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per-share amounts)
(unaudited)

THREE MONTHS ENDED
June 30, June 30, Percent
2005 2004 Change

Net sales $144,538 $135,752 6.
and related Mexican companies (Vitrocrisa), which manufacture , market and
sell glass tableware (beverageware, plates, bowls, serveware and
accessories ) and industrial glassware (coffee pots, blender jars, meter
covers, glass covers for cooking ware and lighting fixtures sold to
original equipment manufacturers) and a 49% equity owner in Crisa
Industrial, L.

luster glazed

The company also noted that it successfully emerged from a previously
announced voluntary Chapter 11 bankruptcy on June 2 with a new $45 million
senior credit facility from CapitalSource Finance LLC.
In the newly created role of Co-CEO, Hunt and Kanter are committed to
creating differentiation in the market through new product innovations and a
continued focus on meeting consumer needs. This has created the foundation for additional licenses and innovative
platforms for growth.
Giftware items include coffee and tea services, goblets, pitchers,
candlesticks, collectables and other decorative items.8 million in the prior-year
second quarter. The increase in sales was
attributable to the Crisal acquisition in Portugal and higher sales of World
Tableware, Traex , and Royal Leerdam products. In addition to the special charges, causes of the reduction
were lower glassware sales to foodservice, retail and industrial customers,
reduced capacity utilization and higher pension and postretirement medical
expenses.

The above information includes "forward -looking" statements as defined in
the Private Securities Litigation Reform Act of 1995.S. Libbey has recorded a pretax charge of $847 in
the second quarter 2005 and $3,844 year-to-date 2005 , as detailed below.18) $0.2%)

Provision for income taxes (1,230) 4 ,891

(Loss) income before minority
interest (2,498 ) 9,930 (125.

lustre glanville

Syratech.6 million compared with $20.8 million lower than
at June 30, 2004 .8 million. Pursuant to the plan,
Libbey closed its manufacturing facility in City of Industry , California,
in February 2005 and realigned production among its other glass
manufacturing facilities.S.

quixotic scuplture

The Company
reported a net loss of $2.49 to $0. In addition, Libbey is a
joint venture partner in the largest glass tableware company in Mexico.'s net sales totaled
$544.7%)

Weighted average shares:
Outstanding 13,844 13,653
Diluted 13,846 13,682

(1) Refer to Table 1 for Special charges detail

LIBBEY INC.

tossers luster

He has worked at Syratech since its
inception in 1986 in a variety of positions, including responsibility for
sales forecasting and overall management of Syratech's global sales force."

About Syratech
Founded in 1986, Syratech Corporation (http://www.
The company's tabletop, giftware and seasonal products include sterling
silver, silverplated and stainless steel flatware, hollowware, seasonal
decorative items, glassware, picture frames, photo albums and porcelain.

Libbey Inc. Announces Second Quarter Results

The Company reported that its diluted earnings per share for
the quarter, as detailed in the attached Table 2, and excluding special
charges relating to the recently announced salary reduction program and
capacity realignment charges associated with the shutdown of its City of
Industry , California, facility in February 2005 and as detailed in the
attached Table 1, were 25 cents as compared with 68 cents in the prior-year
quarter.8 million, as compared with pretax earnings of $1.
Income from operations was $2. In 2004, Libbey Inc.

Table 1
Summary of Special Charges
(Dollars in thousands)

In August 2004, Libbey announced that it is realigning its production
capacity in order to improve its cost structure.45 -
Net income per diluted share
excluding special charges $0.9%)
Equity (loss) earnings - - pretax (752) 1,456
Other income 431 588

Earnings before interest, income
taxes and minority interest 2,171 17,480 (87.

ceramicists lustre

Hunt, who joined Syratech in 2001 as EVP-CFO, has more than 20 years '
financial and operations management experience with private and public
consumer product, manufacturing and real estate companies.
In a joint statement, Hunt and Kanter said, "Having successfully
restructured our finances, Syratech is now well positioned for future growth.com) designs,
manufactures, markets , imports and distributes many of the leading brands in
home fashion, including Wallace Silversmiths , Towle Silversmiths,
International Silver Company, Melannco International, and Rochard. The
environment for the third quarter continues to be challenging, but we expect
significant improvements in the fourth quarter as compared to the fourth
quarter of 2004. Our expectations for sales growth of 10 percent to 12 percent
in the third quarter and 6 percent to 8 percent in the fourth quarter are
expected to result in diluted earnings per share of $0. Its Traex subsidiary, located in
Wisconsin, designs , manufactures and distributes an extensive line of plastic
items for the foodservice industry.8% )

Selling, general and administrative
expenses (1) 20 ,367 17,486
Special charges (1) 4,197 -
Income from operations 2,492 15,436 (83.2%)

Minority interest (4) -

Net (loss) income $(870) $9,365 (109.9%)

Selling, general and administrative
expenses (1) 38,321 34,479
Special charges (1) 7,194 -
Income from operations 2,580 20,759 (87.L. Summarized combined statements of
income for Libbey's investments, accounted for by the equity method
under U. GAAP, is shown above.

sajo dinnerware

We are very excited about this new production facility expected to be
operational by early 2007. GAAP; the
inability to achieve savings and profit improvements at targeted levels in the
Company's operations or within the intended time periods; whether the Company
completes any significant acquisitions, and whether such acquisitions can
operate profitably.

Libbey Inc.68 (108.8%)

Interest expense 6,842 7,092

(Loss) income before income taxes
and minority interest (3,728) 14 ,821 (125.4%)

Net (loss) income per share:
Basic $(0.18) $0.73 (124.

glazed tossers

The Company recorded income from operations of $2.5 million , or $0.32 to $0.54 for the fourth quarter.73
Special charges - net of tax 0.6%)

Interest expense 3,464 3,516

(Loss) income before income taxes
and minority interest (1,293) 13,964 (109.

maura sinks

Hunt will retain his seat on the
Company's board representing management. Sales Up 6. (NYSE: LBY)
announced that its diluted loss per share for the second quarter ended
June 30, 2005, was 6 cents on sales of $144.5 percent to $144.com and
http://phx. Its
Syracuse China subsidiary designs, manufactures and distributes an extensive
line of high-quality ceramic dinnerware , principally for foodservice
establishments in the United States.2%)

Minority interest (21) -

Net (loss) income $(2,519 ) $9,930 (125.

ceramics lustre

Their diverse backgrounds are well suited to complement each other as they
lead the company toward continued growth.5
million from $135.06 per diluted share, as compared with
diluted earnings per share of $0.68 in the second quarter of 2004.8%)

Weighted average shares:
Outstanding 13,869 13,678
Diluted 13,869 13,699

(1) Refer to Table 1 for Special charges detail

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

SIX MONTHS ENDED
June 30, June 30, Percent
2005 2004 Change

Net sales $274,322 $258,875 6.

ceramicists thrown

Outlook for 2005
John F." The Company also reported that total expenditures
for the Chinese facility are planned to be approximately $46 million with an
additional $14 million to be spent in 2005 and approximately $27 million in
2006.

Webcast Information
Libbey will hold a conference call for investors on Thursday,
July 28 , 2005, at 11 a. The conference call will be
simulcast live on the Internet on both http://www. The pretax charge for the salary reduction was $5,564 in the
second quarter of 2005. Libbey believes that providing supplemental non-GAAP financial
information is useful to investors in understanding Libbey's core business
and trends.3%)

Net (loss) income per share:
Basic $(0.V.

quixotic candlesticks

Factors contributing to the decrease, in addition to the special
charges, were lower sales to foodservice, retail and industrial customers,
reduced capacity utilization and higher pension and postretirement medical
expenses.37 for the
third quarter and $0.m. In addition, it is the basis on which Libbey's management
internally assesses performance and such non-GAAP measures are relevant to
Libbey's determination of compliance with financial covenants included in
its debt agreements.25 $0.27 $0.5%
Freight billed to customers 481 564
Total revenues 145,019 136,316

Cost of sales (1) 117,963 103,394
Gross profit 27,056 32,922 (17.

maura glanville

9 million, or $0.:

-- is a leading producer of glass tableware in North America;
-- is expanding its international presence with facilities in the
Netherlands and Portugal and a facility in China planned to begin
production in 2007;
-- is a leading producer of tabletop products for the foodservice
industry;
-- exports to more than 90 countries.06) $0.18) $0., a domestic distributor of industrial glassware for
Vitrocrisa in the U.

anagama quixotic

New management team to focus on product innovation as company successfully
emerges from Chapter 11 restructuring

BOSTON, Syratech Corp. Sales to retail and industrial glassware
customers were down over nine percent, largely attributable to the Company's
earlier decision to discontinue the sale of some low margin products.4 million in the year-
ago quarter.9 million in the year-ago period.8 million in the
year-ago period.
Equity loss from Vitrocrisa was $0.1 million in the year-ago period. Interest expense
decreased $0.3%)

Provision for income taxes (427) 4,599

(Loss) income before minority
interest (866) 9,365 (109.

handbuilt woodfired

today announced that it has
named Gregory W. Robert Meers, who had been CEO, has left the company
at the end of his three-year contract.18 per diluted share, compared with
net income of $9.S. 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.
CONDENSED CONSOLIDATED JOINT VENTURE STATEMENTS OF OPERATIONS
(Dollars in thousands)
(unaudited)

THREE MONTHS ENDED
June 30, 2005 June 30, 2004
Total revenues $49,063 $48,490
Cost of sales 41,130 39 ,270
Gross profit 7,933 9,220
Selling, general and administrative expenses 6,001 5,650
Income from operations 1,932 3,570
Remeasurement (loss) gain (895) 507
Other expense (237) (22)
Earnings before interest and taxes 800 4,055
Interest expense 2,333 1,083
(Loss) income before income taxes (1,533) 2,972
Income taxes (626) 813
Net (loss) income $(907) $2,159

SIX MONTHS ENDED
June 30, 2005 June 30, 2004
Total revenues $94,532 $90,968
Cost of sales 77,829 77,588
Gross profit 16,703 13 ,380
Selling, general and administrative expenses 11,328 11,016
Income from operations 5,375 2,364
Remeasurement (loss) gain (807) 327
Other expense (770) (123)
Earnings before interest and taxes 3,798 2 ,568
Interest expense 4,202 2,430
(Loss) income before income taxes (404) 138
Income taxes (344) (120)
Net (loss) income $(60) $258

Libbey is a 49% equity owner in Vitrocrisa Holding, S.

glazed sudio

Hunt , Executive Vice President and Chief Financial Officer,
and Alan Kanter, Executive Vice President of Sales and Product Marketing, as
the company's Co-CEOs.
Net loss was $0.

Working Capital
Working capital, defined as inventories and accounts receivable less
accounts payable , decreased by $0. Its Crisal subsidiary, located in
Portugal, provides an expanded presence in Europe .31 - 0.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Dollars in thousands)
(unaudited)

SIX MONTHS ENDED
June 30, 2005 June 30, 2004

Operating activities
Net (loss ) income $(2,519) $9,930
Adjustments to reconcile net (loss )
income to net cash provided by
operating activities:
Depreciation and amortization 16,451 15,443
Equity loss (earnings) - net of tax 29 (127)
Minority interest 21 -
Change in accounts receivable (1,697) (6,258)
Change in inventories (4,511) (8,601)
Change in accounts payable (7,886) (4,655)
Special charges 9,408 -
Special charges cash payments (5,896) -
Other operating activities 8,091 5,400
Net cash provided by
operating activities 11,491 11,132

Investing activities
Additions to property, plant and
equipment (19,114) (17,026)
Crisal acquisition and related costs (28,990) -
Net cash used in investing activities (48,104) (17,026)

Financing activities
Net bank credit facility activity 32,880 (5,000)
Other net borrowings 2,713 13 ,738
Stock options exercised 99 328
Dividends (2,768) (2,728)
Other (15) (838)
Net cash provided by financing activities 32 ,909 5,500

Effect of exchange rate fluctuations
on cash - (1)

Decrease in cash (3,704) (395)
Cash at beginning of period 6,244 2,750

Cash at end of period $2,540 $2,355

LIBBEY INC. de C.

sinks quixotic

Supporting the new product
initiatives will be a renewed focus on creating stronger alliances with key
retail partners solidifying distribution on Syratech's core product offerings.5 Percent

TOLEDO, Ohio, Libbey Inc.5 million during the
quarter, as compared with income from operations of $15. 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.06) $0.

anagama ceramicists

5 million in the
second quarter of 2004, was a result of increased maintenance and other
manufacturing costs , lower machine activity and higher natural gas costs,
partially offset by improved margin on sales . The increase in
sales was attributable to the Crisal acquisition in Portugal, higher sales of
Royal Leerdam products, increased export shipments and higher sales of World
Tableware and Traex products .2 million on a pretax basis as compared
to pretax earnings of $0.1
million during the second quarter of 2005 as inventories and accounts
receivable were lower, but were partially offset by lower accounts payable.
This is an increase in working capital of $8.zhtml?p=irol-
eventDetails+c=64169+eventID=1105420 . A replay will be
available for 7 days after the conclusion of the call.73
Diluted $(0.