RPM International Inc. recently reported its financial results for its fiscal 2013 first quarter ended August 31, 2012. Net sales were $1.05 billion, up 6.2% compared to $985.9 million a year ago. First quarter net income after one-time adjustments was $33.9 million, vs. $76.8 million in the fiscal 2012 first period. Net income of $84.8 million (excluding adjustments) was up 10.4% from a year ago.
“First quarter operating results were on plan, with both our industrial and consumer segments posting increases in sales and EBIT, prior to the one-time adjustments that impacted the industrial segment,” said Frank C. Sullivan, chairman and CEO. “Most of our operating units are seeing growth in unit volume, pricing improvement and a stabilization of raw material prices.”
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