MEDINA, OH - RPM International Inc. reported record sales, net income and diluted earnings per share for its fiscal 2014 second quarter that ended November 30, 2013, driven by volume increases in both its industrial and consumer segments and improved operating margins at most of its business units. Based on these results and expectations for the second half, the company increased its full-year earnings guidance for fiscal 2014.
For the fiscal second quarter, net sales increased 5.3 percent to $1.07 billion from $1.02 billion a year ago. Consolidated EBIT increased 30 percent, to $116.4 million from $89.5 million in the fiscal 2013 second quarter. Fiscal 2014 second-quarter net income was up 52.5 percent to $63.6 million from $41.7 million in the fiscal 2013 second quarter. Earnings per diluted share increased 54.8 percent to $0.48 from $0.31 a year ago.