RPM Results Reflect Pressure of Raw Material Costs
MEDINA, OH - RPM International Inc. reported sharply improved net sales for its fiscal 2012 second quarter ended November 30, 2011. Net income increased slightly, and earnings per diluted share were flat, due to higher raw material and acquisition-related expenses.
Net sales grew 10.9 percent to $916.1 million from $826.3 million a year ago. Consolidated EBIT increased 4 percent, to $93.0 million from $89.4 million in the year-ago second quarter. Net income attributable to RPM stockholders was up 2.3 percent, to $49.9 million from $48.8 million in the fiscal 2011 second quarter. Earnings per diluted share for the second quarter were $0.38 in both years.