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Early Reporters’ Results Unhurt by Slowing Economy

January 21, 2008 | Kerri Walsh

Early reporting firms posted strong fourth-quarter results, despite the slowing U.S. economy, particularly the housing sector. PPG Industries reported net income of $200 million ($1.21/share), up 30% from the year-ago quarter, and ahead of First Call’s (Boston) consensus estimates of $1.12/share. Net income from continuing operations was $193 million ($1.17/share), and income from discontinued operations, net of tax, was $7 million (4 cts/share). Revenue increased 15% to $2.87 billion. Bunch: Best quarter in three years. “We achieved over 5% volume...

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