US-based RPM lifts fiscal Q4 net income by 54% on rising sales

26 July 2010 14:22  [Source: ICIS news]

LONDON (ICIS news)--RPM International increased its fiscal fourth-quarter net income by 54% year on year to $60.5m (€46.6m) on the back of rising sales, the US-based coatings and sealants producer said on Monday.
Net sales increased 13.3% to $971.5m from $857.3m in the same period last year, RPM said.

Operating profit was also up, by 23.7%, to $103.3m from $83.4m in the 2009 quarter, the company said in its earnings statement.

“Virtually all of our industrial and consumer businesses posted higher sales in the fourth quarter,” said CEO Frank Sullivan.

The company’s “bottom line” had benefited from a favourable product mix due to RPM’s diversified portfolio of companies, Sullivan added.

There had been better plant utilisation due to higher sales volumes, despite the negative impact of raw material pricing and availability, the CEO said.

Quoted from www.icis.com
($1 = €0.77)
To discuss issues facing the chemical industry go to ICIS connect