RPM Achieves Record Second Quarter, Six-Month
Results
01/16/04
RPM Inc. recently announced record quarterly results. The
stock has risen 40.2% eight months after we recommended the
company. The company's press release concerning the quarterly
results follows.
MEDINA, Ohio, Jan. 8 /PRNewswire-FirstCall/
-- RPM International Inc. (NYSE: RPM), a leading specialty
coatings manufacturer, today reported continued strong performance
for its 2004 fiscal year, achieving record sales, earnings,
and earnings per share for its second quarter and first six
months, ended November 30, 2003.
Second Quarter Results
RPM reported record second quarter net sales
of $589.8 million, up 14 percent from the same period performance
a year ago. Both operating segments strengthened year over
year during the second quarter, with RPM's industrial segment
net sales increasing 15 percent and its consumer segment net
sales growing 12 percent over the prior year, including net
favorable foreign exchange differences and the impact of product
line bolt-on acquisitions.
Net income grew by 19 percent to a record
$35.2 million compared with the prior year. Second quarter
earnings per common share reached a record $0.30, exceeding
$0.26 a year ago by 15 percent.
Six-Month Results
For the first half of its 2004 fiscal year,
RPM reported record net sales of $1.180 billion, 11 percent
ahead of last year. The industrial and consumer operating
segments have both grown solidly through six months, by 12
percent and 11 percent, respectively, including net favorable
foreign exchange differences and the impact of product line
bolt-on acquisitions.
Net income in the first half grew by 12
percent to a record $82.9 million compared with the prior
year. Six-month diluted earnings per common share achieved
a record $0.71, exceeding $0.64 a year ago by 11 percent.
The full press release can be found at www.rpminc.com.
SOURCE: RPM International Inc.
CONTACT: Glenn R. Hasman, Vice President
- Finance and Communications for RPM, +1-330-273-8820, or
ghasman@rpminc.com
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