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RPM’s earnings rise on higher sales, fewer charges

6:59 AM MDT | October 11, 2013

RPM on 9 October reported that net income, at $103.1 million, for the quarter ended 31 August more than doubled that of the year-ago quarter on sales up 11.3% year-on-year (YOY), to $1.17 billion. Earnings totaled 77 cts/share, beating analysts’ consensus estimate of 71 cts/share, as reported by Thomson Reuters (New York). The year-ago quarter included $56.3 million in special charges, most of which was related to a write-down of RPM’s investments in Kemrock Industries and Exports (Vadodara, India). Excluding these charges, sales were up 11% YOY, while net...

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