RPM International Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended November 30, 2013; Provides Consolidated Earnings Guidance for the Full Year of 2013
January 08, 2014 at 06:26 pm IST
Share
RPM International Inc. reported unaudited consolidated financial results for the second quarter and six months ended November 30, 2013. For the quarter, the company reported net sales of $1,071,487,000 against $1,017,426,000 a year ago. Income before income taxes was $97,584,000 against $71,042,000 a year ago. Net income attributable to company's stockholders was $63,562,000 or $0.48 per basic and diluted share against $41,668,000 or $0.32 per basic and diluted share a year ago. EBIT increased 30.0%, to $116.4 million from $89.5 million in the fiscal 2013 second quarter.
For the six months, the company reported net sales of $2,236,161,000 against $2,064,140,000 a year ago. Income before income taxes was $244,800,000 against $143,104,000 a year ago. Net income attributable to company's stockholders was $166,660,000 or $1.25 per diluted share against $75,581,000 or $0.57 per basic and diluted share a year ago. Cash provided by operating activities was $21,832,000 against $127,621,000 a year ago. Capital expenditure was $34,603,000 against $30,849,000 a year ago. Total debt was $1.37 billion compared to $1.42 billion at November 30, 2012. Consolidated EBIT increased 62.0% to $280.4 million from $173.1 million during the first six months of fiscal 2013.
For the year 2013, the company anticipates 5% to 7% consolidated net sales growth for the full year. The company increasing the full-year EPS guidance to a range of $2.05 to $2.10, or 13% to 15% year-over-year growth, versus the range of $2.00 to $2.07 announced last quarter. This new guidance includes the impact of the convertible bond issued on December 9, 2013, which the company expects to be slightly dilutive to the original earnings guidance for the year.
RPM International Inc., through its subsidiaries, manufacture, market and sell various specialty chemical product lines, including specialty paints, infrastructure rehab and repair products, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance and improvement needs of the industrial, specialty and consumer markets. It operates through four segments: Construction Products Group (CPG), Performance Coatings Group (PCG), Consumer Group (Consumer) and Specialty Products Group (SPG). Its CPG segment includes construction sealants and adhesives, coatings and chemicals, roofing systems, concrete admixture and repair products, building envelope solutions, insulated cladding, flooring systems, and weatherproofing solutions. Its PCG segment includes flooring solutions, corrosion control and fireproofing coatings, infrastructure repair systems, fiberglass reinforced plastic gratings, drainage systems, and raised-flooring systems for outdoor environments.
RPM International Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended November 30, 2013; Provides Consolidated Earnings Guidance for the Full Year of 2013