RPM Reports on First
quarter sales and earnings
RPM International announced record sales and earnings for the first quarter ended Aug. 31.
“Market demand remained solid in both our industrial and consumer segments during our first quarter,” said Frank C. Sullivan, president and CEO, RPM. “We continue to successfully supplement underlying growth with the introduction of new products and services, which are quickly gaining market acceptance.”
RPM reported net sales of $661.5 million for the fiscal 2005 first quarter, a 13.9% increase over last year’s first quarter. Organic growth increased sales by $65.5 million. Acquisitions, net of a small divestiture, added $8.2 million, and net favorable exchange rates contributed $6.8 million to the sales growth. Net income was $54.5 million, an improvement of 14.3% over last year. Consumer segment net sales grew 11.8% compared with first