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RPM 3Q Profit Rises on Increased Sales



By AP
03 April 2008 @ 06:41 am EST

MEDINA, Ohio - RPM International Inc., a coatings and sealant company that makes home repair products, said Thursday its fiscal third-quarter profit climbed 21 percent on increased industrial and consumer segment sales.

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Net income rose to $12.2 million, or 10 cents per share, from $10.1 million, or 8 cents per share, a year earlier.

Revenue for the period ended Feb. 29 grew 8 percent to $731.8 million from $679.5 million in the prior year.

Analysts predicted a profit of 6 cents per share on sales of $721.6 million, according to a Thomson Financial survey.

Industrial segment revenue increased to $467.1 million from $425.7 million, while consumer segment sales rose to $264.7 million from $253.8 million.

"Despite the tough U.S. housing market and domestic economy, our consumer segment performed well, as we benefited from prior-year acquisitions, along with the introduction of new, higher-end products," President and Chief Executive Frank Sullivan said in a statement.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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