Welcome Guest to Coatings World    Login || Register
Last Updated Wednesday, November 26 2014
Print RSS Feed

RPM Posts Record Earnings in Fiscal 2002



Published August 10, 2005
RPM, Inc. reported strong financial results for both its fourth quarter and full fiscal year ended May 31, 2002, including record net income and earnings per share. For fiscal 2002, RPM reported net sales of $1.986 billion, down one percent from last year’s net sales of $2.008 billion, due to the March 2001 divestiture of the $30 million commercial unit of DAP, according to the company.
Excluding the divestiture and the effects of foreign exchange differences, consumer sales grew six percent. Demand remained solid for RPM’s DAP, Rust-Oleum and Zinsser products. Industrial sales fell three percent due to general economic weakness in the sector, according to RPM.
Net income during fiscal 2002 grew 61% to a record $101.6 million, compared with $63 million during fiscal 2001.
For the fourth quarter, the specialty coatings manufacturer reported record net sales of $557.4 million, up 1.8% from last year’s fourth quarter net sales of $547.5 million. Excluding the March 2001 divestiture of the commercial unit of DAP and the effects of foreign exchange differences, sales growth overall during the quarter was three percent. RPM’s consumer business increased nine percent, while sales from the industrial sector were down two percent, according to the company. The record net income of $37.2 million for the fourth quarter 2002 was up 53% from the same period last year, which was $24.3 million.


blog comments powered by Disqus
Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
Taiwan
View Profile
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
Taiwan
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
Siltech Corporation
225 Wicksteed Avenue
Toronto, ON, M4H 1G5
Canada
View Profile
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
Follow Coatings World On