MEDINA, Ohio (April 12, 2010)—RPM International Inc. reported a smaller loss for its fiscal 2010 third quarter ended Feb. 28 compared to the prior-year loss in this traditional seasonally slow period.
Seasonably weak sales and harsh weather in North America and Europe impacted the results, the maker of coatings and sealants said.
The net loss for the third quarter was $9.4 million compared to a loss of $30.9 million in the year-ago period. Net sales rose 4.9 percent to $666.6 million.
Sales in the company's industrial segment increased 6.7 percent to $457.7 million, while the consumer segment improved 1.3 percent to $208.9 million, RPM said.
For the nine sales declined 2.8 percent to $2.44 billion, and net income increased 48.8 percent to $119.5 million.