BOSTON (Thomson Financial) - Ferro Corp. Friday reported a wider
fourth-quarter loss from continuing operations of $110.7 million, or $2.58 a
share, from a year-earlier loss from continuing operations of $3.3 million, or 8
cents a share.
Results for the latest quarter include a $128.7 million impairment charge.
The mean estimate of analysts polled by Thomson Financial was for
fourth-quarter profit of 13 cents a share.
Revenue for the Cleveland-based provider of specialty materials and
chemicals rose 14.8% to $570.7 million from $497.3 million a year earlier.
Analysts, on average had estimated revenue of $537.3 million.
For the first quarter of 2008, Ferro forecasts earnings of 12 cents to 17
cents a share, including charges of about 5 cents per share from manufacturing
rationalization activities. Revenue is expected to be between $550 million and
$575 million.
Analysts polled by Thomson Financial, on average, estimate first-quarter
earnings of 26 cents a share.
Shares closed Thursday at $17.26.
Casey Logan
cl/pc
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