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Owens-Illinois: 1Q Earnings Snapshot

PERRYSBURG, Ohio (AP) _ Owens-Illinois Inc. (OI) on Wednesday reported first-quarter profit of $79 million.

On a per-share basis, the Perrysburg, Ohio-based company said it had profit of 51 cents.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The glass container manufacturer posted revenue of $1.64 billion in the period, which met Street forecasts.

For the current quarter ending in July, Owens-Illinois expects its per-share earnings to range from 75 cents to 80 cents.

The company expects full-year earnings to be $3 per share.

Owens-Illinois shares have risen 14% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. In the final minutes of trading on Wednesday, shares hit $19.61, a fall of nearly 3% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OI at https://www.zacks.com/ap/OI