Fourth-quarter net sales were $1.9BN in 2009, (up from $1.7BN). Improved price & mix & a favorable foreign currency translation effect more than offset lower shipments. The loss from continuing operations in Q4 of 2009 was $159.3M, ($0.95/share) compared with a loss from continuing operations of $228.6M, ($1.38/share) in the prior year. Exclusive of the items not representative of ongoing operations, Q4 2009 adjusted net earnings were $84.2M, ($0.49/share/diluted), up from adjusted net earnings of $76.2M, or ($0.45/share diluted), in the prior year Q4. A description of items that management considers not representative of ongoing operations & a reconciliation of the GAAP to non-GAAP earnings & earnings per share can be found in Note 1 provided on the Company's Web site, www.o-i.com. Commenting on the fourth quarter, Chairman and Chief Executive Officer Al Stroucken said, "Our business performed very well in the quarter, offsetting expected higher non-operational costs. While volumes were down modestly from the prior year, glass shipments have gradually recovered and our year-over-year volume comparisons have improved each quarter throughout the year. Our strong cash flow in 2009 allowed us to invest in capital projects, reduce debt and accelerate pension contributions in the fourth quarter, all of which should improve our operating and financial flexibility going forward."
