8-K Earnings Release

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

 

 

 

 

 

 

Date of Report (Date of earliest event reported):

 

February 24, 2016

 

Ferro Corporation

__________________________________________

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

 

Ohio

1-584

34-0217820

_____________________

(State or other jurisdiction

_____________

(Commission

______________

(I.R.S. Employer

of incorporation)

File Number)

Identification No.)

 

 

 

6060 Parkland Boulevard Suite 250, Mayfield Heights, Ohio

 

44124

_______________________________ 

(Address of principal executive offices)

 

___________

(Zip Code)

 

 

 

 

 

 

 

 

Registrant’s telephone number, including area code:

 

216-875-5600

 

Not Applicable

______________________________________________

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

 

Item 2.02 Results of Operations and Financial Condition.

On Wednesday,  February 24, 2016, Ferro Corporation ("the Company") issued a press release that discussed financial results for the three-month and twelve-month periods ended December 31, 2015 and provided the Company’s outlook for 2016. The press release also provided information regarding a conference call to be held on Thursday,  February 25, 2016 in which the Company’s management will discuss the financial results and outlook. Among other things, the press release reports:

 

 

 

 

 

 

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

Three Months Ended December 31, 2015

 

 

 

Net sales:

 

$

264,990 

Gross profit:

 

 

76,377 

Net income attributable to common shareholders:

 

 

50,590 

Diluted earnings per share attributable to common shareholders:

 

 

0.58 

 

 

 

 

Net cash provided by operating activities

 

 

19,704 

Net cash (used in) investing activities

 

 

(41,496)

Net cash provided by financing activities

 

 

12,307 

 

 

 

 

Three Months Ended December 31, 2014

 

 

 

Net sales:

 

$

260,928 

Gross profit:

 

 

58,874 

Net income attributable to common shareholders:

 

 

11,443 

Diluted earnings per share attributable to common shareholders:

 

 

0.13 

 

 

 

 

Net cash provided by operating activities

 

 

18,573 

Net cash provided by investing activities

 

 

28,678 

Net cash provided by financing activities

 

 

822 

 

 

 

 

Twelve Months Ended December 31, 2015

 

 

 

Net sales:

 

$

1,075,341 

Gross profit:

 

 

301,680 

Net income attributable to common shareholders:

 

 

64,100 

Diluted earnings per share attributable to common shareholders:

 

 

0.72 

 

 

 

 

Net cash provided by operating activities

 

 

51,202 

Net cash (used in) investing activities

 

 

(244,600)

Net cash provided by financing activities

 

 

119,726 

 

 

 

 

Twelve Months Ended December 31, 2014

 

 

 

Net sales:

 

$

1,111,626 

Gross profit:

 

 

285,085 

Net income attributable to common shareholders:

 

 

86,071 

Diluted earnings per share attributable to common shareholders:

 

 

0.99 

 

 

 

 

Net cash provided by operating activities

 

 

60,473 

Net cash provided by investing activities

 

 

75,204 

Net cash (used in) financing activities

 

 

(18,143)

 

 

A copy of the press release is attached hereto as Exhibit 99.1.

 

 


 

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit 99.1: Press release

 

 

 


 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ferro Corporation

 

 

 

 

 

February 24, 2016

 

By:

 

/s/ Jeffrey L. Rutherford

 

 

 

 

 

 

 

 

 

 

 

Name: Jeffrey L. Rutherford

 

 

 

 

Title: Vice President and Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

Exhibit Index

 

 

Exhibit No.

Description

99.1

Press Release