Painting & Coating Industry (PCI) logo Powder coating summit logo
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • MATERIALS
  • TECHNOLOGIES
  • FINISHING
  • RESOURCES
  • EVENTS
  • DIRECTORIES
  • EMAGAZINE
  • CONTACT
cart
facebook twitter linkedin youtube
  • NEWS
  • Latest News
  • Market Trends & Reports
  • Price Alerts
  • Subscribe to eNewsletters
  • Global Top 10/ PCI 25
  • Weekly Featured Article
  • COATLE Word Game
  • PRODUCTS
  • Product News
  • Must See Products and Services
  • MATERIALS
  • Additives
  • Resins/Polymers
  • Pigments
  • Equipment
  • Distributors
  • TECHNOLOGIES
  • Adhesives
  • Architectural Coatings
  • Industrial Coatings
  • Nanotechnology
  • Powder Coatings
  • Solventborne
  • Special Purpose Coatings
  • Sustainability
  • UV Coatings
  • Waterborne
  • Waterborne
  • FINISHING
  • Finishing News
  • Finishing Technologies
  • Finishing Equipment
  • RESOURCES
  • Columns
  • Blogs
  • Coatings Supplier Handbook
  • Podcasts and Videos
  • PCI Store
  • eBooks
  • Sponsor Insights
  • White Papers
  • COATLE Word Game
  • Columns
  • Ask Joe Powder
  • Did you know?
  • Distribution Dive
  • Focus on Canada
  • Formulating With Mike
  • Innovation Insights
  • Moody's Coatings Conundrums
  • Powder Coating Perspectives
  • Target the Market
  • TiO2 Insider
  • Blogs
  • Editor's Viewpoint
  • Industry Insights
  • Podcasts and Videos
  • COAT-IT! Podcast
  • Videos/PCI TV
  • EVENTS
  • Coatings Trends & Technologies Summit
  • Paint and Coatings Academy
  • Webinars
  • Calendar of Events
  • Lifetime Achievement Award
  • DIRECTORIES
  • Buyer's Guide
  • Equipment Directory
  • Materials Directory
  • EMAGAZINE
  • Current Issue
  • eMagazine Archive
  • China Issue Archive
  • Editorial Advisory Board
  • CONTACT
  • Contact Us
  • Advertise
  • Subscribe to eMagazine
  • Subscribe to eNewsletters
Painting & Coating Industry (PCI) logo Powder coating summit logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Painting & Coating Industry (PCI) logo Powder coating summit logo
  • NEWS
    • Latest News
    • Market Trends & Reports
    • Price Alerts
    • Subscribe to eNewsletters
    • Global Top 10/ PCI 25
    • Weekly Featured Article
    • COATLE Word Game
  • PRODUCTS
    • Product News
    • Must See Products and Services
  • MATERIALS
    • Additives
    • Resins/Polymers
    • Pigments
    • Equipment
    • Distributors
  • TECHNOLOGIES
    • Adhesives
    • Architectural Coatings
    • Industrial Coatings
    • Nanotechnology
    • Powder Coatings
    • Solventborne
    • Special Purpose Coatings
    • Sustainability
    • UV Coatings
    • Waterborne
    • FINISHING
      • Finishing News
      • Finishing Technologies
      • Finishing Equipment
    • RESOURCES
      • Columns
        • Ask Joe Powder
        • Did you know?
        • Distribution Dive
        • Focus on Canada
        • Formulating With Mike
        • Innovation Insights
        • Moody's Coatings Conundrums
        • Powder Coating Perspectives
        • Target the Market
        • TiO2 Insider
      • Blogs
        • Editor's Viewpoint
        • Industry Insights
      • Coatings Supplier Handbook
      • Podcasts and Videos
        • COAT-IT! Podcast
        • Videos/PCI TV
      • PCI Store
      • eBooks
      • Sponsor Insights
      • White Papers
      • COATLE Word Game
    • EVENTS
      • Coatings Trends & Technologies Summit
      • Paint and Coatings Academy
      • Webinars
      • Calendar of Events
      • Lifetime Achievement Award
    • DIRECTORIES
      • Buyer's Guide
      • Equipment Directory
      • Materials Directory
    • EMAGAZINE
      • Current Issue
      • eMagazine Archive
      • China Issue Archive
      • Editorial Advisory Board
    • CONTACT
      • Contact Us
      • Advertise
      • Subscribe to eMagazine
      • Subscribe to eNewsletters
    Breaking News

    RPM Reports Record Net Income for Second Quarter

    January 7, 2010

    MEDINA, OH -- RPM International Inc. (RPM) has reported record net income and cash flow, despite a small decline in net sales, for its fiscal 2010 second quarter ended Nov. 30, 2009.
     
    RPM's net sales of $858.7 million were down 3.5 percent from the $890.0 million reported in the fiscal 2009 second quarter. Organic sales declined 6.5 percent, offset in part by 2.2 percent in net foreign exchange gains. Net acquisition growth of 0.8 percent also offset part of the organic decline.
     
    Net income for the quarter grew 34.0 percent, to a record $55.9 million from $41.7 million a year ago, while diluted earnings per share improved 30.3 percent, to $0.43 from $0.33.
     
    "Our net income in the second quarter continued to benefit from cost-reduction programs initiated in the prior fiscal year. Modest consumer segment sales growth continued, while sales in our larger industrial segment remained under pressure in line with our previously stated expectations," stated Frank C. Sullivan, Chairman and Chief Executive Officer.
     
    Consolidated earnings before interest and taxes (EBIT) increased 19.4 percent to a record $92.9 million from the $77.7 million reported in the fiscal 2009 second quarter. "In addition to our own cost-reduction efforts, RPM benefited from more stable raw material costs compared to year-ago levels," stated Sullivan.
     
    Sales in RPM's industrial segment, representing 71.4 percent of total sales, declined 6.0 percent to $613.5 million from $652.7 million in the year-ago second quarter. Organic sales declined 9.5 percent, offset in part by acquisition growth of 1.0 percent and net foreign exchange gains of 2.5 percent.
     
    Sales in RPM's consumer segment, which accounted for 28.6 percent of total sales, grew 3.3 percent to $245.2 million from $237.2 million a year ago. All of the increase was organic, including 1.5 percent in net foreign exchange gains
     
    Net sales for the first half of fiscal 2010 decreased 5.4 percent to $1.77 billion from $1.88 billion a year ago. Net income improved 15.9 percent to a record $128.9 million from $111.2 million in the fiscal 2009 first half.
     
    RPM's industrial segment sales declined 10.2 percent in the fiscal 2010 first half, to $1.24 billion from $1.38 billion a year ago. The organic sales decline was 11.1 percent, including net foreign exchange losses of 1.1 percent, partially offset by acquisition growth of 0.9 percent.
     
    First-half sales for the consumer segment grew 7.9 percent to $537.1 million from $497.6 million reported in the first half of fiscal 2009. Organic sales improved by 7.9 percent, including net foreign exchange losses of 0.7 percent.
     
    "We are encouraged by the year-to-date improvements in our gross margin that have resulted from productivity gains, operating efficiencies and cost-reduction actions undertaken during our last fiscal year. Additionally, while still materially above historical norms, raw material costs have declined from last year's extraordinary levels," stated Sullivan. "We continue to anticipate a loss for the seasonally weak fiscal third quarter ending Feb. 28, 2010, but operating results should be significantly improved from the same period last year," he stated. "As a result, we are revising our fiscal 2010 guidance upward to a range of $1.30 to $1.45 compared to the adjusted $1.05 per diluted share earned last year," Sullivan stated.

    Share This Story

    Looking for a reprint of this article?
    From high-res PDFs to custom plaques, order your copy today!

    Recommended Content

    JOIN TODAY
    to unlock your recommendations.

    Already have an account? Sign In

    • PCI-0724-Global10-Feature-1440.png

      2024 Global Top 10: Top Paint and Coatings Companies

      Who ranks on top? PCI’s annual ranking of the top 10...
      Global Top 10 and PCI 25
      By: Courtney Bassett
    • PCI-0724-PCI25-Feature-1440.png

      2024 PCI 25: Top Paint and Coatings Companies

      PCI's annual ranking of the top 25 North American paint...
      Global Top 10 and PCI 25
      By: Courtney Bassett
    • pci1022-Kinaltek-Lead-1170.jpg

      A Novel Pigment Production Technology

      Following an extensive R&D program that demonstrated...
      Paint and Coating Pigments
      By: Jawad Haidar and Nitin Soni
    You must login or register in order to post a comment.

    Report Abusive Comment

    Manage My Account
    • eMagazine
    • eNewsletter
    • Online Registration
    • Subscription Customer Service

    The Coatings Minute: Print Returns with PCI’s New Showcase Issue

    The Coatings Minute: Print Returns with PCI’s New Showcase Issue

    The Coatings Minute: Your Inside Look at PCInnovations

    The Coatings Minute: Your Inside Look at PCInnovations

    The Coatings Minute: Why Industry News Matters More Than Ever

    The Coatings Minute: Why Industry News Matters More Than Ever

    CTT Registration Now Open

    CTT Registration Now Open

    More Videos

    Sponsored Content

    Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the PCI audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of PCI or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

    close
    • Modern arapartment complex painted in bright colors.
      Sponsored byEPS - Engineered Polymer Solutions

      Architectural Polymers Leading the Way in Coatings Innovation

    • paint sprayer in a workshop
      Sponsored byallnex

      Enabling Performance and Compliance: allnex Introduces a New Line of VOC Exempt Solvent-Borne Resins

    Popular Stories

    No. 3 AkzoNobel

    AkzoNobel to Close Two Manufacturing Sites

    Modern living room interior with green plants, sofa and green wall

    Reimagining Architectural Paints with Plant-Based Acrylic Binders

    Modern arapartment complex painted in bright colors.

    Architectural Polymers Leading the Way in Coatings Innovation



    PCI Buyers Guide

    Submit a Request for Proposal (RFP) to suppliers of your choice with details on what you need with a click of a button

    Start your RFP

    Browse our Buyers Guide for manufacturers and distributors of all types of coatings products and much more!

    Find Suppliers

    Events

    September 3, 2025

    Coatings Trends & Technologies Summit

    The Coatings Trends & Technologies (CTT) Summit is an annual conference for both liquid and powder coatings formulators and manufacturers to discuss innovations in coatings technology. This event combines high-quality technical presentations, a resource-rich exhibit hall, and dedicated networking opportunities to connect scientific minds, foster innovation, and cultivate game-changing new ideas!

    January 1, 2030

    Webinar Sponsorship Information

    For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

    View All Submit An Event

    Poll

    Longest-running laboratory experiment

    What is the longest-running laboratory experiment?
    View Results Poll Archive

    Products

    CTT Summit Short Courses (Live 9/3/25)

    Coatings Trends & Technologies Summit is expanding its offerings with four short courses. These short courses will offer an extensive day of interactive learning.

    See More Products
    pci  webinar april 2025

    PCI CASE EBOOK

    Related Articles

    • NEWS

      RPM Reports Record Sales for Second Quarter

      See More
    • AkzoNobel Reports Lower Second-Quarter Net Income

      See More
    • RPM International Reports Positive Net Income

      See More
    ×

    Keep the info flowing with our eNewsletters!

    Get the latest industry updates tailored your way.

    JOIN TODAY!
    • RESOURCES
      • Advertise
      • Contact Us
      • Directories
      • Store
      • Want More
    • SIGN UP TODAY
      • Create Account
      • eMagazine
      • eNewsletters
      • Customer Service
      • Manage Preferences
    • SERVICES
      • Marketing Services
      • Reprints
      • Market Research
      • List Rental
      • Survey & Sample
    • STAY CONNECTED
      • LinkedIn
      • Facebook
      • Youtube
      • X (Twitter)
    • PRIVACY
      • PRIVACY POLICY
      • TERMS & CONDITIONS
      • DO NOT SELL MY PERSONAL INFORMATION
      • PRIVACY REQUEST
      • ACCESSIBILITY

    Copyright ©2025. All Rights Reserved BNP Media.

    Design, CMS, Hosting & Web Development :: ePublishing

    Painting & Coating Industry (PCI) logo Powder coating summit logo
    search
    cart
    facebook twitter linkedin youtube
    • Sign In
    • Create Account
    • Sign Out
    • My Account
    Painting & Coating Industry (PCI) logo Powder coating summit logo
    • NEWS
      • Latest News
      • Market Trends & Reports
      • Price Alerts
      • Subscribe to eNewsletters
      • Global Top 10/ PCI 25
      • Weekly Featured Article
      • COATLE Word Game
    • PRODUCTS
      • Product News
      • Must See Products and Services
    • MATERIALS
      • Additives
      • Resins/Polymers
      • Pigments
      • Equipment
      • Distributors
    • TECHNOLOGIES
      • Adhesives
      • Architectural Coatings
      • Industrial Coatings
      • Nanotechnology
      • Powder Coatings
      • Solventborne
      • Special Purpose Coatings
      • Sustainability
      • UV Coatings
      • Waterborne
      • FINISHING
        • Finishing News
        • Finishing Technologies
        • Finishing Equipment
      • RESOURCES
        • Columns
          • Ask Joe Powder
          • Did you know?
          • Distribution Dive
          • Focus on Canada
          • Formulating With Mike
          • Innovation Insights
          • Moody's Coatings Conundrums
          • Powder Coating Perspectives
          • Target the Market
          • TiO2 Insider
        • Blogs
          • Editor's Viewpoint
          • Industry Insights
        • Coatings Supplier Handbook
        • Podcasts and Videos
          • COAT-IT! Podcast
          • Videos/PCI TV
        • PCI Store
        • eBooks
        • Sponsor Insights
        • White Papers
        • COATLE Word Game
      • EVENTS
        • Coatings Trends & Technologies Summit
        • Paint and Coatings Academy
        • Webinars
        • Calendar of Events
        • Lifetime Achievement Award
      • DIRECTORIES
        • Buyer's Guide
        • Equipment Directory
        • Materials Directory
      • EMAGAZINE
        • Current Issue
        • eMagazine Archive
        • China Issue Archive
        • Editorial Advisory Board
      • CONTACT
        • Contact Us
        • Advertise
        • Subscribe to eMagazine
        • Subscribe to eNewsletters