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09. May-2008
Ferro reports first quarter 2008 results
Ferro Corporation has announced that sales for the three months ended March 31, 2008 were a record USD 607.2 million, up 15 % from the first quarter of 2007. Income from continuing operations for the first quarter of 2008 was USD 9.2 million compared with income of USD 6.2 million in 2007. In the first three months of 2008, operating income included net pre-tax charges of USD 4.0 million. In 2007, operating income was reduced by pre-tax expenses of USD 4.3 million primarily related to manufacturing rationalization activities and a write-off of unamortized fees associated with an unused portion of the Company's term loan arrangements. Net sales increased in the Electronic Materials, Color and Glass Performance Materials, Performance Coatings, and Polymer Additives segments, compared with sales in the first three months of 2007.
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