05 April 2012 19:01 [Source: ICIS news]
HOUSTON (ICIS)—Fourth-quarter 2012 industrial sales for RPM International are expected to increase by 11-12%, and sales in its consumer segment will be up by 5-6% versus the year-ago period, the US-based coatings and sealants company said on Thursday.
The gains are anticipated in part because the company’s fiscal third quarter, which ended on 29 February, is its seasonally slow period.
However, its third-quarter net income increased steeply to $6.63m from $1.10m in the same but significantly weaker period one year ago.
“This continuing positive momentum makes us comfortable in maintaining our original earnings guidance for the year of $1.60-$1.65 per share,” Frank Sullivan, RPM’s chairman and CEO, said in a conference call.
The company would not divulge details on its outlook for fiscal 2013, but Sullivan was optimistic.
“Assuming continuing economic improvement in our core North American markets” as well as stable economies throughout Europe and including positive impact from its fifth and sixth acquisitions within the last 12 months, he said RPM should expect “growth to record levels” next year.
($1 = €0.76)
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