EDINA, OH - RPM International Inc. reported a double-digit increase in net sales for its fiscal 2013 second-quarter that ended November 30, 2012. Net income and diluted earnings per share increased over the prior year, excluding one-time adjustments in both years.
Net sales increased 11.1 percent to $1.02 billion from $916.1 million a year ago. On an as reported basis, consolidated EBIT decreased 3.7 percent, to $89.5 million from $93.0 million in the year-ago second quarter. Second-quarter net income declined 16.5 percent, to $41.7 million from $49.9 million in the fiscal 2012 second-quarter. Earnings per diluted share fell 18.4 percent to $0.31 from $0.38 a year ago.