Last $13.68 USD
Change Today -0.12 / -0.87%
Volume 103.8K
FOE On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 12:52 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

ferro corp (FOE) Snapshot

Open
$13.75
Previous Close
$13.80
Day High
$13.75
Day Low
$13.52
52 Week High
03/21/14 - $14.97
52 Week Low
08/20/13 - $7.17
Market Cap
1.2B
Average Volume 10 Days
461.7K
EPS TTM
$1.44
Shares Outstanding
87.0M
EX-Date
05/6/09
P/E TM
9.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for FERRO CORP (FOE)

ferro corp (FOE) Related Businessweek News

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ferro corp (FOE) Details

Ferro Corporation, together with its subsidiaries, produces and sells specialty materials and chemicals in the United States and internationally. The company operates in five segments: Pigments, Powders, and Oxides; Performance Colors and Glass; Performance Coatings; Polymer Additives; and Specialty Plastics. It offers various performance materials, including frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, specialty dielectrics, electronic glasses, and other specialty coatings; and performance chemicals comprising polymer additives, engineered plastic compounds, and pigment dispersions. The company’s products are used in appliances, automobiles, building and renovation, electronics, household furnishings, packaging, and industrial products. It sells its products primarily to the manufacturers of ceramic tiles, appliances, construction materials, automobile parts, glass, bottles, and wall coverings directly, as well as through agents and distributors. Ferro Corporation was founded in 1919 and is headquartered in Mayfield Heights, Ohio.

ferro corp (FOE) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.0M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $725.0K
Vice President, General Counsel and Secretary
Total Annual Compensation: $377.0K
Vice President of Human Resources
Total Annual Compensation: $357.0K
Compensation as of Fiscal Year 2013.

ferro corp (FOE) Key Developments

Ferro Corporation Announces Tender Offer and Consent Solicitation for its 7.875% Senior Notes Due 2018

Ferro Corporation announced the final results of its announced tender offer and consent solicitation with respect to all $250 million of its outstanding 7.875% Senior Notes due 2018, which expired at Midnight, New York City time, at the end of August 12, 2014. The Tender Offer was made in connection with the company's entry into new senior secured credit facilities in an aggregate principal amount of $500 million, consisting of a senior secured term loan facility in an aggregate principal amount of $300 million and a senior secured revolving credit facility in an aggregate principal amount of $200 million, which the company entered into on July 31, 2014. As of the Expiration Date, approximately $143 million of the aggregate principal amount of Notes had been validly tendered and not withdrawn in the Tender Offer, all of which had been previously accepted for purchase by the company promptly after the early tender deadline at 5:00 p.m., New York City time, on July 30, 2014. On July 31, 2014, the company issued a Notice of Full Redemption notifying holders of outstanding notes that, on August 30, 2014, the company will redeem all of the aggregate principal amount of the Notes that remain outstanding.

Ferro Corporation Announces Entry into Senior Secured Credit Facilities and Results to Date for Tender Offer and Consent Solicitation for Its 7.875% Senior Notes Due 2018

Ferro Corporation announced that it has made significant progress on its previously disclosed refinancing. The company has entered into new senior secured credit facilities in an aggregate amount of $500 million, consisting of a senior secured term loan facility in an aggregate principal amount of $300 million and a senior secured revolving credit facility in an aggregate principal amount of $200 million (Debt Financing). The Debt Financing, among other things, was used to refinance Ferro's existing senior secured credit facility and will be used for payments in connection with the Tender Offer and Consent Solicitation. The Term Loan Facility has a seven-year term and the Revolving Credit Facility has a five-year term. The loans under the Term Loan Facility bear interest equal to LIBOR plus 3.25% (subject to a 0.75% LIBOR floor) and the loans under the Revolving Credit Facility initially bear interest at LIBOR plus 2.75%. Ferro also announced the results to date in connection with its previously announced tender offer (the Tender Offer) and consent solicitation (the Consent Solicitation) with respect to all $250 million of its outstanding 7.875% Senior Notes due 2018 (the Notes). J.P. Morgan Securities LLC is acting as the Dealer Manager for the Tender Offer and as the Solicitation Agent for the Consent Solicitation.

Ferro Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Second Half of 2014 and Increases Earnings Guidance for the Full Year 2014 and 2015

Ferro Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $294,217,000 against $319,022,000 a year ago. Income before income taxes was $19,094,000 against loss of $2,724,000 a year ago. Income from continuing operations was $13,908,000 or $0.15 per basic and diluted share against loss of $3195,065,000 or $0.06 per basic and diluted share a year ago. Net income attributable to common shareholders was $9,959,000 or $0.11 per basic and diluted share against net loss of $2,130,000 or $0.02 per basic and diluted share a year ago. Net cash provided by operating activities was $24,910,000 against $8,552,000 a year ago. Capital expenditure for property, plant and equipment and other long-lived assets was $20,642,000 against $7,724,000 a year ago. Adjusted EBITDA was $38,918,000 against $29,284,000 a year ago. Adjusted net income from continuing operations attributable to common shareholders was $17 million, or $0.19 per diluted share, compared with $10 million, or $0.11 per diluted share, in the prior-year quarter. For the six months, the company reported net sales of $574,944,000 against $614,680,000 a year ago. Income before income taxes was $31,724,000 against $447,000 a year ago. Income from continuing operations was $24,057,000 or $0.27 per diluted share against loss of $2,800,000 or $0.03 per basic and diluted share a year ago. Net income attributable to common shareholders was $27,164,000 or $0.31 per basic and diluted share against net loss of $1,247,000 or $0.01 per basic and diluted share a year ago. Net cash provided by operating activities was $2,670,000 against net cash used in operating activities of $8,554,000 a year ago. Capital expenditure for property, plant and equipment and other long-lived assets was $32,805,000 against $15,902,000 a year ago. Adjusted EBITDA was $70,766,000 against $48,902,000 a year ago. For the second half of 2014, the adjusted gross profit margin is expected to be in the range of 27.0% to 27.5%. For the year 2014, the company increasing adjusted earnings guidance to $0.52 to $0.57 per diluted share from prior guidance of $0.48 to $0.53 per diluted share. The company is lowering its revenue outlook to be below 2013 levels. For the year 2015, the company increased earnings target. Adjusted earnings per share are now expected to exceed $0.90 per diluted share, up from prior guidance of greater than $0.80 per diluted share.

 

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