RPM International Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - RPM International Inc. (RPM) reported that its fourth-quarter net income attributable to stockholders decreased to $65.38 million or $0.49 per share, from $82.57 million or $0.63 per share, last year.

One-time pre-tax adjustments totaling $42.7 million during the quarter included a $22.5 million write down of RPM's remaining financial investments in Kemrock Industries and Exports Limited in India.

As-adjusted net income was up 15.5% to $95.4 million, or $0.72 per share, from $82.6 million, or $0.63 per share, prior year. On average, ten analysts polled by Thomson Reuters expected the company to report profit of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.

Net Sales rose to $1.17 billion, from $1.10 billion last year. Analysts expected revenue of $1.18 billion for the quarter.

Frank Sullivan, chairman and chief executive officer of the company, said, "Our overall operating results for both the quarter and year were strong, especially given the headwinds in Europe and previously reported difficulties in our roofing division. Net sales, net income and diluted earnings per share experienced significant growth, on an as-adjusted basis, as our consumer segment continued its robust performance and many industrial segment businesses posted gains."

The company anticipates 5% to 7% growth in consolidated net sales, for fiscal 2014. The company expects net income to increase 9% to 13%, resulting in earnings per share in the range of $1.98 to $2.05 for fiscal 2014. Analysts expect the company to report fiscal 2014 profit per share of $2.03 on revenue of $4.39 billion.