GlassOnWeb.com - Glass News - Ferro Reports 2008 Second-Quarter Results
 
 HOME   DIRECTORY   NEWS   ARTICLES   BUSINESS AREA   FORUM    JOBS  
 
Sign-in | Registration
  »  Home  »  News  »  Ferro Reports 2008 Second-Quarter Results
 
 
   CONTRIBUTE
Submit your news
Submitted news



   NEWS ARCHIVES
2016
May
April
March
February
January
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001



GLASS ON WEB - news feed
 
  News


Companies
Ferro Reports 2008 Second-Quarter Results

CLEVELAND--(BUSINESS WIRE) - Ferro Corporation (NYSE: FOE) (the "Company") today announced sales of $650.4 million for the quarter ended June 30, 2008, up 17 percent from sales of $553.7 million in the second quarter of 2007.

Income from continuing operations for the 2008 second quarter was $9.4 million, or $0.21 per diluted share, compared with $4.6 million, or $0.10 per diluted share, in the second quarter of 2007. Income from continuing operations increased as a result of the combined effects of higher gross profit driven by increased net sales, lower selling, general and administrative expenses and reduced interest expense, partially offset by higher restructuring charges. Income from continuing operations for the second quarter of 2008 included net pre-tax expenses of $13.8 million primarily related to restructuring charges, asset write-offs, and corporate development activities. In the second quarter of 2007, income from continuing operations included net pre-tax expenses of $10.0 million primarily related to litigation settlements and manufacturing rationalization costs.

"The Ferro team delivered outstanding performance in the quarter, from sales to net income," said Chairman, President and Chief Executive Officer James F. Kirsch. "Our improved results came in spite of slowing economic growth and unprecedented cost increases for a number of raw materials. Our efforts to improve business operations and restructure manufacturing assets are generating results, and we are making sustainable progress toward our long-term profitability goals."

Full story

 




August 26th, 2008
Photo: www.ferro.com
Source: http://phx.corporate-ir.net


Share this news article:




Latest news
May-03-16
Taking the Lead in the Industry
May-03-16
Discussing IG gas fill at China Glass 2016
May-03-16
The Dream Showroom Ready to Inspire at GlassBuild America 2016
May-03-16
PPG announces executive appointments
May-03-16
Glass – A Stylish Material
May-03-16
Automatic device for rotation and positioning of glass sheets
May-03-16
Vetrotech Saint-Gobain North America Announces AIA Convention 2016 Participation
May-03-16
Get under the skin of a world beating glazing robot
May-03-16
uPVC – its importance in glass doors and windows
May-03-16
AIS bestows ‘The Keystone Award’ on successful female architects




ADVERTISEMENT