RPM International Inc. recently reported improved net sales for its fiscal 2012 second quarter, which ended November 30, 2011. Net sales grew 10.9%, to $916.1 million from $826.3 million a year ago. Consolidated EBIT increased 4%, to $93.0 million from $89.4 million in the previous year’s second quarter.
“Investments in future growth, including much higher acquisition expenses associated with the roughly $165 million in annualized sales from businesses acquired so far this fiscal year, and higher raw material costs were the primary factors behind our net income lagging sales growth,” said Frank C. Sullivan, chairman and CEO. “Raw material costs continued to be a challenge during our second quarter and typically have a more significant impact on our consumer segment, which faces longer lead times in adjusting prices than our industrial segment.”
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RPM Second Quarter Sales Grow 10%
January 6, 2012