Ceramic Industry News

CoorsTek Updates Fourth Quarter 2001 Expectations

January 15, 2002
/ Print / Reprints /
/ Text Size+
CoorsTek, Inc. recently updated its previously issued guidance for the fourth quarter of 2001. Specifically, the company is projecting revenue of $70 to $72 million versus $76 million, and a gross manufacturing loss of $11 to $13 million. Factors contributing to this loss include decreased gross margins because of underabsorption of fixed costs related to the lower sales volume and a significant reduction in inventory of more than $20 million for the quarter. CoorsTek is projecting an approximate 15% sequential decrease in selling, general and administrative expenses, which is better than had been expected. Early in the 2001 fourth quarter, CoorsTek estimated that it would record an approximate $10 million write-off to cover its optimization efforts during the quarter. The individual charges are as follows: approximately $1 million related to a nearly 20% reduction in workforce, approximately $7 million for obsolete inventory and the write-off of excess equipment, and approximately $1.5 million for facility closings. All of these expenses are included in the estimated gross manufacturing loss, as noted above, with the exception of the write-off associated with facility closings, which will be reported as an asset impairment.

CoorsTek intends to provide additional guidance regarding its first quarter 2002 outlook in the 2001 earnings release and conference call on January 24, 2002. The conference call, which will begin at 4:30 p.m. EST, will be web cast live on the Internet via the CoorsTek website at http://www.coorstek.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.



Image Galleries

April 2014 Issue Highlights

Our April 2014 issue is now available!


Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI July 2014

2014 July

Our annual Data Book & Buyers' Guide is your best resource for suppliers of materials and equipment for the ceramic, glass, brick and related industries. Check it out!

Table Of Contents Subscribe


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.


CI Data Book July 2012

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


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px