Gross profit was $59 million and $74 million in for the fourth quarters of 2012 and 2011, respectively. Excluding special items and precious metal sales, gross profit was $65 million, or 17.8% of sales during the 2012 fourth quarter, compared with $76 million, or 19.3% of sales, during the fourth quarter of 2011. The reduction in gross profit relates primarily to lower sales in the Electronic Materials segment and reduced demand in Europe.SG&A expenses were $96 million for the fourth quarter of 2012 and $125 million for the fourth quarter of 2011. Adjusted SG&A expenses were $65 million for the fourth quarter of 2012, versus $74 million in the fourth quarter of 2011.
Ferro Reports 2012 Fourth Quarter And Full-Year Results
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