MEDINA, OH - RPM International Inc. reported record sales, net income and diluted earnings per share for its fiscal fourth quarter ended May 31, 2015.

Fourth-quarter net sales increased 7.5 percent to $1.37 billion from $1.28 billion. Consolidated earnings before interest and taxes (EBIT) improved 18.7 percent to $204.3 million, from $172.1 million a year ago. Net income for the fourth quarter was up 17.7 percent to $128.0 million from $108.8 million reported in the fourth quarter of fiscal 2014. Diluted earnings per share were $0.94, up 17.5 percent from $0.80 reported a year ago.

"We are pleased with RPM's fourth-quarter performance, especially in view of the headwinds posed by the very strong U.S. dollar and sluggish conditions in many international regions, including much of Europe and Latin America. Despite these challenges, our operating companies continue to compete and win in their respective markets, helping to drive our growth. Furthermore, fiscal 2015 will be most remembered as the year we closed the chapter on our Bondex asbestos liability issue and reconsolidated the Specialty Products Holding Corp. (SPHC) subsidiaries generating more than $400 million in annualized sales back into the fold at RPM," stated Frank C. Sullivan, RPM Chairman and Chief Executive Officer.

Fiscal 2015 fourth-quarter industrial segment sales increased 14.2 percent to $878.5 million from $769.2 million reported a year ago. Organic sales improved 6.4 percent, while acquisition growth added 16.3 percent, including the impact of SPHC subsidiaries that were reconsolidated with RPM's results effective on January 1, 2015. Foreign currency translation negatively impacted sales by 8.5 percent. Industrial segment EBIT was up 21.6 percent to $120.7 million from $99.2 million in the prior year.

"Industrial results were mixed in the fourth quarter, as they have been throughout the 2015 fiscal year. Our U.S. industrial businesses performed well, benefiting in part from continued momentum in commercial construction and the additional sales attributable to the reconsolidation of SPHC. This performance was dampened by the surge in the U.S. dollar against most other currencies around the world, especially the euro. Overall, our industrial businesses in Europe showed tremendous resiliency with relatively flat sales in local currencies," stated Sullivan.

Net sales for RPM's consumer segment declined 2.5 percent to $494.7 million from $507.6 million in the fiscal 2014 fourth quarter. Organic sales were down 1.3 percent, while acquisition growth added 1.3 percent. Foreign exchange translation was a negative 2.5 percent. Consumer segment EBIT increased 17.1 percent in the fiscal 2015 fourth quarter to $100.6 million from $86.0 million and included an earn-out reversal of $9.9 million from Synta, established at the time of its acquisition in fiscal 2013.  Excluding the earn-out, EBIT increased 5.5 percent.

"Our consumer businesses faced some tough comparisons against a very strong fourth quarter in fiscal 2014, particularly our Synta deck coatings and Kirker nail enamel businesses. Additionally, the impact of a particularly rainy spring and start to the summer selling season dampened retail take-away across nearly all our consumer product lines," stated Sullivan.

Fiscal 2015 consolidated net sales increased 5.0 percent to $4.59 billion from $4.38 billion in fiscal 2014. Consolidated EBIT was up 6.7 percent to $522.3 million from $489.7 million in fiscal 2014. Reported net income declined 17.9 percent to $239.5 million from $291.7 million in fiscal 2014. Diluted earnings per share of $1.78 were down 18.3 percent from $2.18 a year ago.

Fiscal 2015 sales for RPM's industrial segment increased 8.0 percent to $2.99 billion from $2.77 billion in fiscal 2014. Organic sales increased 5.1 percent, with acquisition growth, mostly SPHC, contributing 7.6 percent. Foreign currency translation negatively impacted sales by 4.7 percent.

Consumer segment sales for fiscal 2015 decreased slightly to $1.60 billion from $1.61 billion in fiscal 2014. Organic sales increased by 0.1 percent, and acquisition growth added 1.3 percent. Currency translation negatively impacted sales by 1.6 percent.