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Ferro swings to loss on drastically lower demand

11:44 AM MDT | October 31, 2012 | Vincent Valk

Ferro swung to a $316-million net loss for the third-quarter, compared with a $19.3-million profit in the year-ago period, on sales down 24% year-on-year (YOY), to $415 million. Results were impacted by a severe drop in demand in the company's electronic materials business, particularly related to solar pastes, as the solar end-market continues to be very weak. The company incurred restructuring and impairment charges of $199 million, mostly because of an impairment of goodwill in the company's electronic materials segment. Excluding those charges, Ferro's...

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