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PPG Reports First Quarter Earnings

Post Time:Apr 20,2012Classify:Industry NewsView:155

 - First quarter 2012 sales of $3.8 billion, up 6 percent versus prior year
 - Strong growth in U.S. coatings sales
 - Adjusted diluted earnings per share of $1.81, up 29 percent versus record prior year
  -Record adjusted earnings per share for seven consecutive quarters
  -Company ends quarter with $1 billion of cash and short-term investments

PITTSBURGH, April 19, 2012 – PPG Industries (NYSE:PPG) today reported net sales for the first quarter 2012 of $3.8 billion, an increase of 6 percent versus the prior year’s first quarter. Net income for the quarter was $13 million, or 8 cents per diluted share, including nonrecurring charges. Adjusted net income for the quarter, excluding the nonrecurring charges, was $279 million, or $1.81 per share. First quarter 2011 net sales were $3.5 billion, and net income was $228 million, or $1.40 per diluted share.

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Source: http://www.glassonweb.com/news/index/15667/Author:

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