RPM's Earnings Fall on Deconsolidation of SPHC

摘要

RPM International's net income fell 5%, to $53.5 million, in its fis- cal second quarter ended November 30, 2010, on sales down 4%, to $826.3 million. RPM cites the deconsolidation of its Specialty Products Holding Corp. (SPHC) subsidiaries. On a pro forma basis, RPM's industrial segment posted year-over-year revenue gains on strength in its businesses concentrated in maintenance, repair and infrastructure, while its consumer segment faced "the challenges of tough comparison" following record results in the fall of 2009, says RPM chairman and CEO Frank Sullivan.