Owens-Illinois, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net sales of $1,818 million against $1,728 million a year ago. Loss from continuing operations before income tax was $769 million against $81 million a year ago. Loss from continuing operations was $769 million or $4.71 per basic and diluted share against $74 million or $0.51 per basic and diluted share a year ago. Net loss attributable to the company was $771 million or $4.69 per basic and diluted share against net loss attributable to the company of $412 million, or $2.5 per diluted share a year ago. Cash provided by continuing operating activities was $223 million against $187 million a year ago. Additions to property, plant and equipment continuing was $81 million against $111 million a year ago. Net debt was $3.63 billion, compared to $3.638 billion at the prior year end. Capital spending was more than $200 million lower than prior year had less spending for expansion and restructuring than in 2010. For the year, the company reported net sales of $7,358 million against $6,633 million a year ago. Loss from continuing operations before income tax was $406 million against income before income tax of $424 million a year ago. Loss from continuing operations was $491 million or $3.12 per basic and diluted share against earnings from continuing operations of $295 million or $1.57 per basic and diluted share a year ago. Net loss attributable to the company was $510 million or $3.11 per basic and diluted share against net loss attributable to the company of $47 million, or $0.28 per diluted share a year ago. Cash provided by continuing operating activities was $503 million against $592 million a year ago. Additions to property, plant and equipment continuing was $285 million against $500 million a year ago. The company also provided capital spending guidance for the year of 2012. Capital spending outlook is $350 million. It also expects a better performance in 2012 with better profitability. As fourth-quarter operating profit drop 18% from 2010, the company said the ongoing fiscal crisis in Europe is forcing it to take a more cautious outlook on 2012. The company plans to move some of its operations to new sites and it will be start building a new plant outside of Shanghai in 2012.