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):

 

July 27, 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,  July 27, 2016, Ferro Corporation ("the Company") issued a press release that discussed financial results for the three-month and six-month periods ended June 30, 2016 and provided the Company’s outlook for the remainder of 2016. The press release also provided information regarding a conference call to be held on Thursday,  July 28, 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 June 30, 2016

 

 

 

Net sales:

 

$

297,977 

Gross profit:

 

 

98,373 

Net income attributable to common shareholders:

 

 

18,969 

Diluted income per share attributable to common shareholders:

 

 

0.22 



 

 

 

Net cash provided by operating activities

 

 

8,186 

Net cash (used in) investing activities

 

 

(5,398)

Net cash (used in) financing activities

 

 

(8,378)



 

 

 

Three Months Ended June 30, 2015

 

 

 

Net sales:

 

$

268,214 

Gross profit:

 

 

77,640 

Net income attributable to common shareholders:

 

 

6,599 

Diluted earnings per share attributable to common shareholders:

 

 

0.08 



 

 

 

Net cash provided by operating activities

 

 

14,203 

Net cash (used in) investing activities

 

 

(11,641)

Net cash provided by financing activities

 

 

104,936 



 

 

 

Six Months Ended June 30, 2016

 

 

 

Net sales:

 

$

575,428 

Gross profit:

 

 

182,602 

Net income attributable to common shareholders:

 

 

9,003 

Diluted earnings per share attributable to common shareholders:

 

 

0.11 



 

 

 

Net cash (used in) operating activities

 

 

(1,975)

Net cash (used in) investing activities

 

 

(17,086)

Net cash provided by financing activities

 

 

10,822 



 

 

 

Six Months Ended June 30, 2015

 

 

 

Net sales:

 

$

530,986 

Gross profit:

 

 

148,275 

Net income attributable to common shareholders:

 

 

17,569 

Diluted earnings per share attributable to common shareholders:

 

 

0.20 



 

 

 

Net cash provided by operating activities

 

 

3,934 

Net cash (used in) investing activities

 

 

(31,908)

Net cash provided by financing activities

 

 

102,388 



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



 

 

 

 

July 27, 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