Ferro Corp. (FOE) Wednesday reported third-quarter profit of $12.7 million or $0.15 per share, compared to a loss of $316.1 million or $3.66 per share in the same period last year.
Adjusted earnings from continuing operations totaled $12.5 million or $0.14 per share. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.10 per share for the quarter. Analysts' estimates typically exclude special items.
Sales dropped to $408.1 million from $408.9 million last year. Analysts expected sales of $399.19 million.
Looking ahead to the fourth-quarter, the company has forecast adjusted earnings in the range of $0.04 to $0.07 per share. Analysts currently expect fourth-quarter earnings of $0.05 per share.
For the fiscal 2013, the company has raised its adjusted earnings outlook to a range of $0.42 to $0.45 per share from its previous guidance range of $0.35 to $0.40 per share. Analysts currently expect full-year earnings of $0.39 per share.
by RTT Staff Writer
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