RPM Reports Improved Fourth Quarter Results
Net income for the fourth quarter was $60.5 million, a 54.0% increase over the $39.3 million earned a year ago. Earnings per diluted share grew 51.6% to $0.47 per diluted share, compared to $0.31 in the year-ago period. Fourth quarter earnings before interest and taxes (EBIT) of $103.3 million were up 23.7% over EBIT of $83.4 million in the fourth quarter of fiscal 2009.
Excluding one-time charges in both years, adjusted net income for the fiscal 2010 fourth quarter was $68.5 million, a 25.4% increase over net income of $54.6 million in the same period a year ago. Adjusted diluted earnings per share were $0.53, a 26.2% increase over $0.42 a year ago. Fourth quarter adjusted consolidated EBIT was $111.2 million, a 12.4% increase over EBIT of $98.9 million in the final period of fiscal 2009.
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