23 July 2012 13:14 [Source: ICIS news]
LONDON (ICIS)--RPM International’s fiscal fourth-quarter net income increased by 17.7% year on year to $82.6m (€68.6m), the US-based coatings and sealants company said on Monday.
Net sales for the quarter ended 31 May 2012 grew 12.2% year on year to $1.1bn while consolidated earnings before interest and taxes (EBIT) increased 16.5% to $139.5m
Diluted earnings per share rose by 16.7% to $0.63, RPM said in a statement.
“Our operating companies posted an excellent finish to the fiscal year by delivering double-digit increases in sales and net income over last year's strong fourth quarter,” said chairman and CEO Frank Sullivan.
“This performance was driven by internal growth initiatives, market share gains and continued geographic expansion, despite ongoing raw material challenges and an uncertain global economy.”
For its fiscal full-year of 2012, RPM’s net income was up 14.2% from the previous year at $215.9m, while sales revenue increased by 11.7% to $3.8bn.
RPM said 2013 would be another year of continued improvement in its sales and earnings but at a more moderate pace.
($1 = €0.83)
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