Ferrotec Corp. Announces Earnings Results for the Year Ended March 2012; Provides Earnings Guidance for the Fiscal Year Ending March 2013
June 26, 2012 at 06:00 pm IST
Ferrotec Corp. announced earnings results for the year ended March 2012. During the fiscal 2012, sales rose by 3.8% year-over-year but ordinary income declined by 47.7% year-over-year due to sudden decline in pricing, reduced sales, and subsequent lower marginal profitability.
During the coming fiscal 2013, sales and ordinary income are expected to decline by 16.8% and 75.7% year-over-year respectively on the back of the outlook for a continuation of difficult operating environment until the second half of the fiscal year.