Ceramic Industry News / Raw and Processed Materials

Sales Decline for Ferro in First Quarter

May 2, 2013
/ Print / Reprints /
ShareMore
/ Text Size+

Ferro Corp. recently reported results for the first quarter ended March 31, 2013. Net sales were $418 million, vs. $460 million in the first quarter of 2012. Reduced volumes and changes in pricing and product mix reportedly accounted for the entire decline at approximately 5% and 4%, respectively.

Sales declined across all of the reportable segments, with the largest declines in Performance Coatings; Pigments, Powders and Oxides; and Polymer Additives. The exit of the solar pastes product line drove the majority of the change in the Pigments, Powders and Oxides segment. Sales of performance coatings product offerings declined compared to the prior-year period primarily due to an increasingly competitive sales environment and reduced demand. Sales for coatings products were particularly weak in Latin America.

Gross profit was $79 million during the quarter, compared with $86 million during the first quarter of 2012. Excluding special charges, adjusted gross profit was $80 million compared with $86 million in the prior-year period. During the first quarter of 2013, gross profit was reportedly reduced by charges of approximately $1 million related to residual costs at closed manufacturing sites that were affected by prior-period restructuring actions and the write down of inventory related to the solar disposition. The primary driver of the decline in gross profit dollars was reportedly lower sales volumes, particularly in the Performance Coatings and Polymer Additives segments, and the exit of the solar pastes product line.

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

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.

Directories

CI Data Book July 2012

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

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px