Ferro - Fourth Quarter Earnings Expectation Lowered

US coatings a and speciality chemicals producer Ferro lowered its expectations for its fourth quarter results in the second week of January. Ferro said it expects fourth-quarter 2001 diluted earnings per share to be US$ 0.10-0.15, while previous estimates by analysts were at US$0.12-21, averaging to US$0.16. The lowered expectation reflects "a significant drop in overall market demand in December in that US and Europe as many customers extended holiday shutdowns," the company said in a recent statement.