● RPM International Inc. reported solid financial results for its second
quarter, ended November 30, 2002, and for the first
half of its 2003 fiscal year. The specialty coatings manufacturer
reported record net sales of $518 million, a six percent
increase over last year’s second quarter net sales of
$487.9 million. RPM experienced continued and relatively
balanced growth between its two operating segments. The
industrial and consumer business segments had organic
sales growth of five percent and six percent, respectively,
plus approximately one percent growth in each segment
from small product line acquisitions and foreign exchange
benefits, according to the company.
For the first half of its 2003 fiscal year, RPM reported
four percent higher net sales, reaching a record $1.06
billion, up from $1.02 billion a year ago. Both operating
segments, industrial and consumer, have achieved
organic growth of three percent and four percent, respectively,
along with minimal contribution from small product
line acquisitions and foreign exchange benefits,
according to RPM.