Welcome Guest to Coatings World    Login || Register
Last Updated Friday, December 19 2014
Print

Sherwin Williams (cont'd)



Published August 11, 2005
“We were encouraged by the continued strength of the architectural paint sales in our paint stores segment during the fourth quarter, particularly in the DIY customer sector, and by the sales volume increases that continue to be achieved by our consumer segments as the domestic economic recovery appears to be gaining steam,” said chairman and CEO Christopher M. Connor. “We are also optimistic that the beginning signs of recovery in the industrial maintenance and product finishes markets seen during the last half of the year will continue.”
Net sales in the paint store segment rose 9.7% in the fourth quarter and 5.1% for the year to reach $3.5 billion. Sales from stores open for more than 12 calendar months rose 8.6% in the fourth quarter and four percent for the year. This segment’s operating profit rose 15.7% during the quarter and 1.2% for the year.
Sherwin-Williams’ consumer segment recorded sales of $1.19 billion, a rise of one percent, with fourth quarter sales up 6.2%. Operating profit was up 3.3% to $199 million.
The international coatings segment recorded sales of $285.3 million, a 16.8% rise.
The automotive segment’s net sales were $456.7 million for the year, a rise of just less than one percent, with fourth quarter net sales up 8.6%. Operating profit for the year dropped 3.8%.
“The cost containment efforts implemented over the past few years in our consumer, automotive finishes and international coatings segments contributed significantly to our operating profit improvements for the year in spite of a pre-tax reduction of nearly $21 million in the net pension credit,” said Connor. “We foresee a long slow economic recovery in the U.S. industrial sector and we are planning accordingly. We have been operating effectively in a sluggish economic and have positioned ourselves to take advantage of market opportunities in many different areas as the economic recovery gains momentum.”


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