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RPM Swings to Loss
RPM International(RPM Quote), a maker of specialty paints and sealants, said it swung to fourth-quarter loss due to a higher asbestos charge.
The company lost $142.0 million, or $1.21 a share, in the fourth quarter ended May 31, compared with a gain of $46.2 million, or 37 cents a share, a year ago. Adjusted for asbestos charges, the company earned 58 cents a share in the quarter. Analysts polled by Thomson Financial were expecting the company to earn 54 cents a share.
Fourth-quarter revenue rose 20.5% from the year-ago period to $909.2 million. Analysts were estimating revenue of $892.6 million for the quarter. ...
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