IHS Chemical Week

People & Business :: Companies

Ferro’s Sales and Profits Improve in the Fourth Quarter

9:11 AM MST | March 1, 2011 | Nancy Seewald

Ferro reported net income of $2.9 million in the fourth quarter 2010, compared with a loss of $12 million in the same period of 2009. The 2010 period included restructuring and impairment charges of $19.6 million due mostly to restructuring of manufacturing sites in Europe. Adjusted earnings from continuing operations, excluding charges, were 24 cts/share, compared with 14 cts/share in the year-ago period. Sales rose 17%, to $537 million, on higher sales of precious metals, volumes up 14%, improved product mix, and higher selling prices. Unfavorable foreign...

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