RPM First Quarter Net Income Leaps 204%
RPM International Inc. recently announced an increase in sales and net income for the fiscal 2014 first quarter ended August 31, 2013. Fiscal 2014 first quarter net sales were $1.165 billion, up 11.3% over $1.047 billion a year ago. First quarter net income increased 204.0% to $103.1 million, up from the $33.9 million reported in the year-ago period.
RPM’s consumer segment reported a 26.2% increase in sales, from $343.4 million in the first quarter last year to $433.4 in fiscal 2013. The company’s industrial segment net sales grew 4%, to $731.2 million from the $703.3 million reported a year ago.
“Our consumer segment continued trends set over the past several quarters, benefiting from higher sales that resulted from market share gains, innovative newer products at selling prices significantly above our norm and the recovery in the U.S. housing market,” said Frank C. Sullivan, chairman and CEO.
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