MEDINA, OH -- RPM International Inc. has reported double-digit increases in sales, net income and diluted earnings per share for its fiscal 2012 first quarter ended August 31, 2011.
Fiscal 2012 first-quarter net sales of $985.9 million were 10.2 percent ahead of the $894.8 million reported a year ago. Consolidated EBIT was $136.5 million, up 11.9 percent from the $122.0 million reported in the fiscal 2011 first quarter. Net income attributable to RPM stockholders of $76.8 million was up 11.3 percent from the $69.0 million reported in the fiscal 2011 first quarter. First-quarter diluted earnings per share were $0.59, an 11.3 percent increase over the $0.53 reported a year ago.
“First-quarter results were on plan, with both our industrial and consumer segments posting solid increases in both sales and EBIT, despite the continued challenging economic climate and higher raw material costs,” said Frank C. Sullivan, Chairman and Chief Executive Officer.
The company's consumer segment reported a 9.0 percent increase in sales to $318.9 million from $292.5 million in the fiscal 2011 first quarter. The company's industrial segment sales improved 10.7 percent to $667.0 million from $602.3 million a year ago.
The company also announced a cash dividend for the 38th consecutive year. The dividend, a quarterly payment of $0.215 per share, represents an increase of 2.4 percent over the prior year.
RPM Reports Double-Digit Increases for First Quarter
October 9, 2011