Ceramic Industry News / Advanced Ceramics

Ferro First Quarter Sales Down 19%

May 3, 2012
/ Print / Reprints /
ShareMore
/ Text Size+

Ferro Corp. recently announced that its net sales for the three months ended March 31 were $466 million, down 19% compared to net sales of $573 million in the previous year’s first quarter. Reduced sales of Electronic Materials products, including precious metal sales, reportedly caused the decline in consolidated net sales. Excluding the Electronic Materials segment, sales increased by 6.5%.

Reduced customer demand for conductive pastes used in solar cell applications and metal powders used in a variety of electronic products resulted in a $131 million decline in sales for the Electronic Materials segment, including an $88 million decline in sales of precious metals due to reduced volume and lower silver prices. Demand for conductive pastes remains weak, according to the company. Sales increased in the Performance Coatings, Specialty Plastics, Polymer Additives, Color and Glass Performance Materials, and Pharmaceuticals segments compared with the prior-year quarter.

“Ferro generated income and positive earnings in the 2012 first quarter, and sales increased in all businesses except Electronic Materials compared with the first quarter of 2011,” said James F. Kirsch, chairman, president and CEO. “While we continued to experience weak demand for conductive pastes and powders in our Electronic Materials business, we recorded sequential sales and income improvement in our Performance Coatings, Color and Glass Performance Materials, Polymer Additives, and Specialty Plastics businesses, compared with the fourth quarter of 2011.

“We will continue to carefully manage costs, expenses and cash, given the existing uncertainties regarding the timing and strength of a recovery of solar paste demand in the Electronic Materials business.”

For additional information, visit www.ferro.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI October 2014 cover

2014 October

Materials advances, refractories and renewable energy - oh, my! Check out our October issue today!

Table Of Contents Subscribe

Personal Smartphones

Do you use your personal smartphone or other device to complete tasks for your job?
View Results Poll Archive

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!