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PPG meets expectations as fourth-quarter reports start

6:04 AM MST | January 21, 2013 | —Lindsay Frost

Bunch: Sales, earnings rise despite Europe slump. PPG Industries reported fourth-quarter net income of $227 million, up 5% year-on-year. Revenues were up 4%, to $3.6 billion. Reported adjusted earnings excluding nonrecurring charges were $238 million—or $1.53/share, which were up 10% over the prior-year quarter and line with analyst estimates, as reported by Thomson Reuters (New York). “We grew our sales and earnings despite moderate overall economic conditions that varied by region and end-use market, and continued negative impacts from currency...

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