Ferro Q3 Profit Rises

(RTTNews) - Ferro Corporation (FOE) Monday reported third-quarter net income of $47.5 million or $0.55 per share, up from $12.7 million or $0.15 per share last year.

Net sales for the quarter dropped to $275.8 million from $298.1 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.14 per share on revenues of $282.1 million for the quarter. Analysts' estimates typically exclude special items.

Moving ahead, the company expects adjusted earnings from continuing operations for 2014 to be at the high end of earnings guidance of $0.52 to $0.57 per share. Analysts currently estimate earnings of $0.59 per share last year.