8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 29, 2013

Ferro Corporation
__________________________________________
(Exact name of registrant as specified in its charter)

Ohio	1-584	34-0217820
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
6060 Parkland Boulevard, Mayfield Heights, Ohio		44124
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 216-875-5600

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On Wednesday, April 24, 2013, Ferro Corporation ("the Company") announced a new segment reporting structure. As part of the Company's value creation strategy, the Company has reorganized its businesses to improve operating efficiencies and better align commercial and manufacturing operations with the markets served. Consequently, the Company will now report under a structure that reflects how performance of its businesses is evaluated, strategic decisions are made and resources are allocated. With the new structure, the Company will have five reporting segments:

1. Pigments, Powders and Oxides
2. Performance Colors and Glass
3. Performance Coatings
4. Polymer Additives
5. Specialty Plastics

In conjunction with the changes to reportable segments, the Company also changed the profitability metric used by management to evaluate segment performance to segment gross profit.

For informational purposes, included in Exhibit 99.1 to this Current Report on Form 8-K are historical unaudited business segment reporting information adjusted to reflect the new segment reporting structure.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1: Table of Adjusted Segment Results

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Ferro Corporation
April 29, 2013	By:	Jeffrey L. Rutherford
		Name: Jeffrey L. Rutherford
		Title: Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Table of Adjusted Segment Results

EX-99.1

Ferro Corporation and Subsidiaries
Segment Sales Excluding Precious Metals and Segment Gross Profit (Unaudited)
(Dollars in thousands)	Three months ended
	December 31,			September 30,			June 30,			March 31,
	2012			2012			2012			2012
Segment Net Sales
Pigments, Powders and Oxides	$	32,500		$	39,100		$	43,023		$	42,874
Performance Colors and Glass		78,946			75,389			93,246			87,735
Performance Coatings		140,641			137,228			157,315			152,514
Polymer Additives		69,580			79,881			83,450			87,724
Specialty Plastics		38,205			41,305			44,151			47,056
Total segment sales excluding precious metals		359,872			372,903			421,185			417,903
Sales of precious metals		39,906			35,962			54,361			42,522
Total net sales	$	399,778		$	408,865		$	475,546		$	460,425
Segment Gross Profit
Pigments, Powders and Oxides	$	5,542		$	5,870		$	13,212		$	7,032
Performance Colors and Glass		22,481			22,445			28,042			28,908
Performance Coatings		26,281			23,858			31,107			30,359
Polymer Additives		3,079			8,907			6,525			11,439
Specialty Plastics		5,980			7,035			7,565			8,659
Other cost of sales		(6,042	)		(7,404	)		(634	)		(676	)
Total gross profit	$	57,321		$	60,711		$	85,817		$	85,721
				Three months ended
	December 31,			September 30,			June 30,			March 31,
	2011			2011				2011			2011
Segment Net Sales
Pigments, Powders and Oxides	$	41,248		$	65,961		$	72,798		$	80,619
Performance Colors and Glass		81,914			90,947			95,262			91,475
Performance Coatings		149,019			153,366			163,480			136,700
Polymer Additives		74,198			85,633			91,271			85,863
Specialty Plastics		39,283			43,606			46,511			42,629
Total segment sales excluding precious metals		385,662			439,513			469,322			437,286
Sales of precious metals		50,536			99,697			118,778			130,058
Total net sales	$	436,198		$	539,210		$	588,100		$	567,344
Segment Gross Profit
Pigments, Powders and Oxides	$	12,650		$	26,994		$	34,736		$	42,962
Performance Colors and Glass		21,558			29,316			30,324			31,194
Performance Coatings		28,502			31,518			32,516			28,230
Polymer Additives		5,690			8,255			8,806			11,047
Specialty Plastics		6,036			6,243			6,681			6,082
Other cost of sales		(2,416	)		(1,179	)		(992	)		(1,949	)
Total gross profit	$	72,020		$	101,147		$	112,071		$	117,566

It should be noted that segment net sales excluding precious metals is a financial measure not required by, or presented in accordance with, accounting principles generally accepted in the United States (U.S. GAAP). The sales are presented here to exclude the impact of volatile precious metal raw material costs. The precious metal raw material costs are generally passed through directly to customers with minimal margin. We believe this data provides investors with additional information on the underlying operations of the business and enables period-to-period comparability of financial performance.