Ceramic Industry News

Ferro Reports 2006 Financial Results (3/27/07)

Ferro Corp. recently announced that its sales for the year ended December 31, 2006, were a record $2.04 billion, up 8.5% from 2005. Sales for the fourth quarter were $497 million, an increase of 8.6% from the fourth quarter of 2005. Income from continuing operations for 2006 was $20.6 million, or $0.45 per diluted share, compared with $17.1 million, or $0.37 per share, in 2005.

In 2006, operating income included net pre-tax expenses of $34.9 million, primarily related to previously announced manufacturing rationalization activities and costs associated with an accounting investigation and restatement. In 2005, operating income was reduced by pre-tax expenses of $14.1 million, primarily related to expenses from restructuring and the accounting investigation and restatement. Sales for the first quarter of 2007 are expected to be approximately $500 million to $525 million, reflecting continued growth across multiple business segments.

Additional details are available at www.ferro.com.


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