RPM Fourth Quarter Income Rises 17%
RPM International Inc. recently reported sharp gains in net sales and net income for its fiscal 2012 fourth quarter and year, which ended May 31. Net sales grew 12.2% to a record $1.1 billion from $981.8 million in fiscal 2011. Net income was up 17.7% to $82.6 million from $70.2 million a year ago.
Fiscal 2012 consolidated net sales and net income saw double-digit increases. Net sales were up 11.7% to a record $3.8 billion from $3.4 billion in fiscal 2011. Net income grew 14.2% to a record $215.9 million from $189.1 million in fiscal 2011.
“Our operating companies posted an excellent finish to the fiscal year by delivering double-digit increases in sales and net income over last year’s strong fourth quarter,” said Frank C. Sullivan, chairman and CEO. “This performance was driven by internal growth initiatives, market share gains and continued geographic expansion, despite ongoing raw material challenges and an uncertain global economy.”
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