Shares of O-I jumped to an all-time high after the glass packaging products company reported 4Q 2007 & full year results on 30 January 2008 that beat expectations & pleased analysts. O-I reported net sales from continuing operations of US$ 1.957BN for the 4Q 2007, compared with US$ 1.699BN in 2006 up 15.2%. Approximately two-thirds of the quarter's sales increase is attributable to favorable currency translation. Improved prices and product sales mix accounted for the remaining one third of the increase. Sales volume (tons shipped) was down 1% in the 4Q of 2007; compared with the same quarter in 2006 and for the full year, volume was up 2%. Earnings from continuing operations for the 4Q 2007 were US$ 14.6M compared with a 4Q 2006 loss of US$ 90.0M. Excluding items, 4Q 2007 earnings from continuing operations rose to US$ 167.4M, compared with US$ 35.7M in 4Q 2006. Net sales from continuing operations for 2007 rose 14% to US$ 7.567BN($6.650BN). The US$ 917M increase was driven by favorable currency translation, mainly of the Euro & Australian dollar. improved prices and product sales mix across all regions, and a 2% increase in the tonnage of glass sold globally
