RPM Narrows Third Quarter Loss

摘要

RPM reported a net loss of $9.4 million (7 cts/share) in its fiscal third quarter, compared with a loss of $30.9 million in the same year-ago quarter. Sales increased 5%, to $666.6 million, on higher revenue in the company's industrial segment. The quarter's loss was in line with analysts expectations, as reported by Thomson Reuters (New York). "Some of our industrial businesses rebound- ed, while sales of others that are exposed to North American com- mercial construction markets have not yet begun to recover," says Frank C. Sullivan, chairman and CEO. "Our consumer sales were up slightly, reflecting the impact of severe winter weather through- out the entire U.S." Industrial segment sales increased 7%, to $458 million, on improving organic sales, foreign exchange gains, and acquisition growth.