MAYFIELD HEIGHTS, Ohio (AP) _ Ferro Corp. (FOE) on Tuesday reported second-quarter net income of $10.9 million.
The Mayfield Heights, Ohio-based company said it had profit of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The specialty chemicals maker posted revenue of $393.9 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $418.1 million.
Ferro expects full-year earnings in the range of $1.17 to $1.27 per share.
Ferro shares have decreased nearly 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.27, a decline of 31% in the last 12 months.