Lost customer orders after Lancaster plant shutdown push EveryWare Global to $50M loss

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Glass-maker Anchor Hocking is owned by EveryWare Global Inc.

Tom Knox

Reporter- Columbus Business First

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Uncertainty surrounding the future of EveryWare Global Inc. led the company to a dreary third quarter, but executives say Anchor Hocking's parent company is making its way back.

The company saw its third-quarter revenue fall 19.6 percent, a drop of almost $20 million from the same time last year. The net loss was $49.9 million compare with a loss of $1.1 million in the same period last year.

Click here for the full earnings release.

Customer orders lost after the company's Lancaster plant shut down attributed to the loss and added to customer uncertainty, executives said Thursday.

EveryWare Global had a rough summer, temporarily shuttering its plants and leaving its 1,000-plus workers in Lancaster wondering about future operations.

EveryWare received a $20 million infusion in July from its top investor to keep it running.

One of Anchor Hocking's furnaces even leaked molten glass in July.

But CEO Sam Solomon told analysts that the glassware and housewares product-maker is making up lost ground, while acknowledging losing customers ahead of the important holiday season.

The company (NASDAQ:EVRY) is taking more cost-restructuring actions, although Solomon did not say if that would result in job cuts for its Ohio employees.

"The actions we're taking will take time to achieve full potential, but I believe we're on the right path to stabilize and strengthen this business," he said.

Interim CFO Joel Mostrom said the company's main focus is restoring customer confidence, reclaiming or replacing lost sales orders and managing manufacturing capacity to "optimal levels."