MEDINA, OH - RPM International Inc., Medina, OH, reported financial results for its fiscal 2013 first quarter ended August 31, 2012, and raised its earnings guidance for the full fiscal year, excluding one-time adjustments.
Fiscal 2013 first-quarter net sales of $1.05 billion increased 6.2 percent over the $985.9 million reported a year ago. Including one-time adjustments, consolidated EBIT for the fiscal 2013 first quarter was $83.5 million compared to $136.5 million a year ago. First-quarter net income after one-time adjustments was $33.9 million, or $0.26 per diluted share, compared to $76.8 million, or $0.59 per diluted share, in the fiscal 2012 first period. Excluding one-time adjustments, consolidated EBIT was $139.8 million, up 2.4 percent from the fiscal 2012 first quarter. Net income of $84.8 million excluding adjustments was up 10.4 percent from a year ago. First-quarter diluted earnings per share excluding adjustments was $0.64, an 8.5 percent increase over the $0.59 reported last year.