MEDINA, Ohio (April 10)—RPM International Inc. reduced its net loss by 43.7 percent to $2.7 million on record sales of $612.5 million in its fiscal third quarter, ended Feb. 28.
The firm said that excluding asbestos charges, earnings increased 53 percent in quarter, as earnings before interest and taxes grew 24.2 percent to $10.7 million compared with 2005's third quarter.
The maker of coatings and sealants said gross margins began to recover in the period because RPM was able to increase prices to offset higher raw material costs, many of which have begun to moderate.
RPM expects to have record sales and earnings for the full fiscal year, excluding asbestos charges.