MAYFIELD HEIGHTS, Ohio (AP) _ Ferro Corp. (FOE) on Wednesday reported a fourth-quarter loss of $20.9 million, after reporting a profit in the same period a year earlier.
The Mayfield Heights, Ohio-based company said it had a loss of 25 cents per share. Earnings, adjusted for non-recurring costs, came to 27 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The specialty chemicals maker posted revenue of $281.3 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $277 million.
For the year, the company reported a loss of $20.8 million, or 25 cents per share, swinging to a loss in the period. Revenue was reported as $1.15 billion.
Ferro expects full-year earnings in the range of $1.12 to $1.17 per share.
Ferro shares have dropped slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.29, an increase of 41 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FOE at https://www.zacks.com/ap/FOE
Keywords: Ferro, Earnings Report