09 October 2013 14:18 [Source: ICIS news]
HOUSTON (ICIS)--RPM International’s fiscal 2014 first-quarter net income tripled to $103m (€76m) as sales increased by 11.3% year on year to $1.16bn, the US-based coatings, sealants and building materials firm said on Wednesday.
Also helping to explain the sharp year-on-year improvement in net income was the fact that the fiscal 2013 fiscal first quarter included $56m in charges and write-downs, whereas the fiscal 2014 first quarter did not, RPM said.
Excluding the impact of the charges in the year-ago period, RPM's 2014 first-quarter net income was up 21.6% year on year from the adjusted 2013 figure, the company said.
RPM’s gross profit for the three months ended 31 August was $499m, compared with $434m in the same period a year ago.
($1 = €0.74)
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