Moderate Recovery and Cost Saving Programs Lift PPG's First-Quarter Earnings

PPG Industries’ first-quarter earnings results rose compared to the year-ago period because of increased volumes in several end use markets, and internal cost saving programs. PPG reported net income before special items nearly quadrupled, to $117 million (70 cts/share), on sales up 12%, to $3.1 billion. The consensus of analysts’ estimates was for 63 cts/share. Income including special items was $30 million (18 ca/share), compared to a loss of $111 million.  First-quarter 2010 net income includes aftertax charges of $85 million as a result of a...

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