Ferro Turns To Profit In Q4; Issues FY14 Adj. EPS Outlook

(RTTNews) - Ferro Corp. (FOE) Monday reported fourth-quarter net income attributable to the company of $60.5 million or $0.69 per share, compared to a loss of $63.9 million or $0.74 per share in the same period last year.

Adjusted earnings from continuing operations totaled $8.0 million or $0.09 per share. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.07 per share for the quarter. Analysts' estimates typically exclude special items.

Sales dropped to $374.32 million from $399.78 million last year. Analysts expected sales of $379.10 million.

For the fiscal 2014, the company expects adjusted earnings to be in the range of $0.65 to $0.70 per share. Analysts currently expect full-year earnings of $0.72 per share.