RPM International 1Q Profit Rises 5.1 Pct

MEDINA, Ohio (AP) — Coatings and sealants maker RPM International Inc. on Monday reported a 5.1 percent climb in its fiscal first-quarter profit, driven by earnings strength in its consumer segment and company-wide expense cuts.

The company also said it expects fiscal 2010 earnings per share to reach the higher end of its previously announced outlook. Its shares rose in premarket trading.

Earnings for the quarter ended Aug. 31 rose to $73 million, or 57 cents per share, compared with $69.5 million, or 53 cents per share, last year.

Analysts polled by Thomson Reuters estimated a profit of 44 cents per share, on average. Analysts typically exclude one-time items.

Revenue fell 7.1 percent to $916 million, down from $985.5 million last year. Analysts forecast an average revenue of $873.9 million.

In July the company said it expected fiscal 2010 earnings per share growth of 5 percent to 25 percent over the adjusted $1.05 per share earned in fiscal 2009. That increase would bring earnings for the period ending May 31 to between $1.10 per share and $1.31 per share. Analysts predict a profit of $1.22 per share.

In premarket trading on Monday, RPM shares advanced $1.12, or 6.2 percent, to $19.20.