RPM International Inc. (RPM: 18.68 0.00 0.00%) recently posted record net income of $55.9 million for the second fiscal quarter, versus last year’s $41.7 million. Sales slipped 3.5% year-over-year.
Company Description
RPM International Inc., through its subsidiaries, offers specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. RPM’s industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Day-Glo, Euco and Dryvit. RPM’s consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors.
Record Results
The company recently posted record net income of $55.9 million for the second fiscal quarter, versus last year’s $41.7 million. Sales slipped 3.5% year-over-year.
“Our net income in the second quarter continued to benefit from cost reduction programs initiated in the prior fiscal year. Modest consumer segment sales growth continued, while sales in our larger industrial segment remained under pressure in line with our previously stated expectations,” stated Frank C. Sullivan, chairman and chief executive officer.
Higher Forecasts
The company hiked its fiscal year earnings guidance on the strong quarter to a range of $1.30 to $1.45 per share.
Analysts polled by Zacks are calling for earnings of $1.41 for the year ending May 2010, an increase from $1.27 over the past 2 months.
For the following year, the Zacks Consensus Estimate of $1.64 per share was upped from the 2 months-ago level of $1.52.
Industry-leading Numbers
RPM International offers a return on equity (ROE) of 13.01%, versus an industry average of 12.68%. The company also pays a dividend yield of 4.5%, topping the industry average of 2.1%
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