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Ferro Sees First-Quarter Profit

The company cites momentum.

Ferro

(FOE) - Get Report

, the Cleveland-based supplier of technology-based performance materials for manufacturers, said it expects first-quarter earnings from continuing operations of 12 cents a share to 16 cents a share, including benefit plan curtailment charge, stock-based compensation expenses and financial audit expenses, on revenue of $500 million to $510 million. Analysts polled by Thomson First Call are expecting earnings of 25 cents a share in the first quarter.

The company also reported that it lost $1.1 million, or 3 cents a share in the fourth quarter of 2005, on revenue of $457.5 million. In the fourth quarter, the company swung to a loss of $0.9 million from continuing operations compared with the income from continuing operations of $0.5 million, a year ago. Analysts were expecting earnings of $10.6 million, or 21 cents a share, on revenue of $461.1 million in the fourth quarter.

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"We are beginning to see the benefits from the restructuring and productivity improvements we've put in place over the past several quarters. We expect to report a strong 2006 first quarter with substantial growth in sales and earnings, and we expect that momentum to carry through to the second quarter,'' the company said.

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