Welcome Guest to Coatings World    Login || Register
Last Updated Wednesday, July 30 2014
Print

RPM reports 3Q, nine month



Published August 16, 2005
RPM International Inc. reported record sales for the fiscal third-quarter ended Feb. 28. However net income declined, due to continued higher raw material costs and asbestos liability costs, the company said.
“Due to seasonal effects of winter weather, our third quarter is historically our weakest quarter for both sales and earnings. Nevertheless, both of our operating segments were able to exceed their targets for internal growth, reflecting the ongoing focus on growth among all of our businesses,” said Frank C. Sullivan, president and CEO. “While we are not satisfied with the earnings results in this most recent quarter, the underlying fundamentals of RPM are the strongest in recent memory, underpinning our optimism about RPM’s future.”
RPM’s consolidated net sales were $516.3 million for the third quarter, up 8.9% over last year’s third-quarter sales of $474 million. The company did, however, report a net loss of $4.8 million, compared with net income of $6.0 million in the fiscal 2004 third quarter. Excluding the asbestos charge, adjusted fiscal 2005 third-quarter net income was $4.5 million. Including an asbestos charge of $15 million pre-tax to increase RPM’s reserves for known asbestos claims, consolidated earnings before interest and taxes (EBIT) were $0.8 million compared with $17.1 million in the year-ago quarter. Excluding the asbestos charge, adjusted EBIT declined 7.3% to $15.8 million. RPM’s industrial segment’s consolidated third quarter sales rose 10.7% to $293.1 million, while consumer segment sales rose 6.7% to $223.2 million. For the first nine months of fiscal 2005, RPM’s consolidated net sales rose 10.1% to a record $1.8 bil


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
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
Sun Chemical Corporation Performance Pigments
5020 Spring Grove Avenue
Cincinnati, OH, 45232
USA
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Buhler Group (Nanotechnology)
13105 12th Ave. North
Plymouth, MN, 55441-4509

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
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
Follow Coatings World On