RPM Reports Record Second Quarter Sales and Income
RPM International Inc. recently reported record sales and net income for its fiscal 2014 second quarter ended November 30, 2013, reportedly driven by volume increases in both its industrial and consumer segments and improved operating margins at most of its business units. Net sales increased 5.3%, from $1.02 billion a year ago to $1.07 billion. Fiscal 2014 second quarter net income was $63.6 million, up 52.5% from $41.7 million in the fiscal 2013 second quarter. Earnings per diluted share increased 54.8% to $0.48 from $0.31 a year ago.
“Second quarter operating performance was strong, with a vast majority of our operating units posting solid increases in sales and EBIT,” said Frank C. Sullivan, chairman and CEO. “Sales increases in both of our business segments were primarily driven by improved unit volume, with relatively minimal acquisition growth or pricing.”
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