PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


RPM Announces FY 2009, Q4 Results

Wednesday, July 29, 2009

Comment | More

RPM International Inc. (Medina, OH) reported its net income and sales for the fourth quarter and fiscal year (FY) 2009, which ended May 31, 2009. The fourth quarter and year included a one-time charge of $15.5 million for goodwill and other intangible asset impairments in the industrial segment. Excluding these charges, FY 2009 net income and sales declined for the quarter and full year.

Sales for the quarter fell 20.3% to $857.3 million, and FY sales dropped 7.6% to $3.37 billion. The industrial segment declined 21.9% in the fourth quarter and 4.3% for the year. Industrial segment sales represented 67% of total sales. Organic sales fell by 9.5% for the year and 23.5% for the quarter, including a net foreign exchange loss of 4.1% and 7.2%, respectively. Net foreign exchange losses were partially offset by acquisition growth of 5.2% for the year and 1.6% for the quarter. The consumer segment, which accounted for 33% of total sales, fell 17.6% in the fourth quarter and 13.6% for the year.

Fourth quarter net income was $39.3 million, or $0.31 per diluted share, compared to a fourth quarter loss in 2008 of $87.6 million. FY net income was $119.6 million, or $0.93 per diluted share. The 2008 FY was $47.7 million. FY 2009 cash from operations was a record $267 million, up 13.8%. Free cash flow increased by 52.5%, totaling $110.2 million. The company’s total debt was $930.8 million, down from $1.1 billion the previous year.

Frank C. Sullivan, chairman and chief executive officer of RPM, stated, “While our industrial businesses will continue to face economic challenges as a result of weak commercial construction and industrial capital spending activity, our prior year actions have effectively reduce the breakeven point at every RPM business…We expect a recovery in our industrial markets sometime in the spring of 2010.”

RPM is a holding company that owns subsidiaries in specialty coatings and sealants serving industrial and consumer markets.

   

Tagged categories: Finance; RPM

Comment Join the Conversation:

Sign in to our community to add your comments.

Fischer Technology Inc.
MP0R with rotating display screen

Automatic rotating display screen just like your smart phone. Click for Video
Call 800-243-8417


Corrosion Probe, Inc.
From Detection to Correction

Corrosion Probe, Inc. has the Most Concrete Coatings Experience and Expertise. Contact us today at
860-767-4402, www.cpiengineering.com


HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com


Safway Services
Suspended Access Made Easy With QuikDeck™

The smart choice for suspended access, QuikDeck’s interchangeable, lightweight components make them easy to set up and reassemble when you need to move.


Dow Polyurethane Systems
Choose the Right Coat

Dow’s high-performance, protective polyurethane spray elastomer system increases durability for steel and concrete applications.


WINOA Group
W Abrasives - Surf Prep Pack

Experts in surface preparation are not working only on greens. To discover the SURF PREP PACK dedicated to experts, come to visit us during the GIFA (Hall15 - D14).


Jessup Manufacturing Company
More Traction for Extreme Marine Conditions

Jessup Safety Track® 3800 Military Grade peel-and-stick non-skid tapes and treads provide extra slip resistance for decks. MIL-PRF-24467C Type XI, Black & Gray.


SAFE Systems, Inc.
Portable Blast &
Recovery Equipment

Trailer or skid mounted blast and recovery equipment. Systems designed for maximum versatility, environmental compliance
and overall cost savings.
Call 1-800-634-7278


Midsun Specialty Products
Stopaq 30+ Year Coatings

Use Stopaq corrosion prevention coatings on pipelines, field joints, tank chimes, structural steel and more. Learn more at www.midsunsp.com/stopaq

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com