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
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Date of Report (Date of earliest event reported): |
July 27, 2016 |
Ferro Corporation
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(Exact name of registrant as specified in its charter)
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Ohio |
1-584 |
34-0217820 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
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of incorporation) |
File Number) |
Identification No.) |
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6060 Parkland Boulevard Suite 250, Mayfield Heights, Ohio |
44124 |
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_______________________________ (Address of principal executive offices) |
___________ (Zip Code) |
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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:
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(In thousands, except per share amounts) |
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Three Months Ended June 30, 2016 |
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Net sales: |
$ |
297,977 | |
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Gross profit: |
98,373 | ||
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Net income attributable to common shareholders: |
18,969 | ||
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Diluted income per share attributable to common shareholders: |
0.22 | ||
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Net cash provided by operating activities |
8,186 | ||
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Net cash (used in) investing activities |
(5,398) | ||
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Net cash (used in) financing activities |
(8,378) | ||
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Three Months Ended June 30, 2015 |
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Net sales: |
$ |
268,214 | |
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Gross profit: |
77,640 | ||
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Net income attributable to common shareholders: |
6,599 | ||
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Diluted earnings per share attributable to common shareholders: |
0.08 | ||
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Net cash provided by operating activities |
14,203 | ||
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Net cash (used in) investing activities |
(11,641) | ||
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Net cash provided by financing activities |
104,936 | ||
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Six Months Ended June 30, 2016 |
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Net sales: |
$ |
575,428 | |
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Gross profit: |
182,602 | ||
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Net income attributable to common shareholders: |
9,003 | ||
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Diluted earnings per share attributable to common shareholders: |
0.11 | ||
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Net cash (used in) operating activities |
(1,975) | ||
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Net cash (used in) investing activities |
(17,086) | ||
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Net cash provided by financing activities |
10,822 | ||
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Six Months Ended June 30, 2015 |
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Net sales: |
$ |
530,986 | |
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Gross profit: |
148,275 | ||
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Net income attributable to common shareholders: |
17,569 | ||
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Diluted earnings per share attributable to common shareholders: |
0.20 | ||
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Net cash provided by operating activities |
3,934 | ||
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Net cash (used in) investing activities |
(31,908) | ||
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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.
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Ferro Corporation |
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July 27, 2016 |
By: |
/s/ Jeffrey L. Rutherford |
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Name: Jeffrey L. Rutherford |
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Title: Vice President and Chief Financial Officer |
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Exhibit Index
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Exhibit No. |
Description |
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99.1 |
Press Release |