RPM Fiscal 2013 Sales Grow 8%
RPM International Inc. recently reported financial results for its fiscal 2013 fourth quarter and year ended May 31, 2013, which reportedly reflected strong operating performance offset by non-operating adjustments for both the quarter and full year. On an as-reported basis, fourth quarter net sales increased 6.3%, from $1.10 billion to $1.17 billion. As-reported net income for the fourth quarter was $65.4 million, down 20.8% from the $82.6 million reported in the fourth quarter of fiscal 2012.
Fiscal 2013 consolidated net sales increased 8% to $4.08 billion, up from $3.78 billion in fiscal 2012. Net income declined 54.3%, from $215.9 million to $98.6 million.
“Our overall operating results for both the quarter and year were strong, especially given the headwinds in Europe and previously reported difficulties in our roofing division,” said Frank C. Sullivan, chairman and CEO. “Net sales, net income and diluted earnings per share experienced significant growth, on an as-adjusted basis, as our consumer segment continued its robust performance and many industrial segment businesses posted gains.”
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