warned that its fourth-quarter results would be weaker than expected due to slow demand. The company expects diluted earnings per share of between 10 cents and 15 cents, below Wall Street's consensus estimate of 16 cents, as reported by Thomson Financial/First Call.
The industrial coating maker said the results reflected a drop in demand in December for the U.S. and Europe, but it also said positive demand signs are emerging for 2002.
Shares of Ferro closed at $24.50 Monday on the
New York Stock Exchange
before the warning.