RPM Fourth Quarter Net Sales Up 11%
Net sales, net income and earnings per share for the fourth quarter were all up sharply over prior-year pro-forma results. Net sales rose 10.9% to $981.8 million from a pro-forma $885.6 million in fiscal 2010. On a pro-forma basis, fiscal 2011 net sales, net income and earnings per share increased. Net sales were up 8.5% to $3.38 billion from a pro-forma $3.12 billion in fiscal 2010. Consolidated EBIT increased 10.5% to $344.8 million from a pro-forma $312.1 million in fiscal 2010.
“Our strong fourth quarter performance reflects the resilience of our operating companies in the face of stiff headwinds generated by escalating raw material costs, continued weakness in the domestic housing market and a commercial construction market that is only gradually recovering from depressed levels,” said Frank C. Sullivan, chairman and CEO. “Our deliberate strategic balance between industrial and consumer markets once again proved effective in addressing challenging market conditions.”
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