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PPG reports strong second quarter 2010 financial results

Post Time:Jul 15,2010Classify:Industry NewsView:144

PPG Industries, Pittsburgh, today reported sales for the second quarter of $3.5 billion, an increase of 11 percent versus the prior year’s second quarter, according to a July 15 release. Second quarter reported net income was $272 million, or $1.63 per share. Second quarter 2009 sales were $3.1 billion and reported net income was $146 million, or 89 cents per share.

“PPG’s strong results this quarter benefited largely from a 10 percent increase in volumes,” said Charles E. Bunch, PPG chairman and chief executive officer. “The breadth of geographies and end-use markets that we serve is enabling us to leverage continuing positive momentum in global industrial demand. The performance of our portfolio is being elevated by this higher industrial activity and strong demand across the Asia/Pacific and Latin America regions. This is more than offsetting weak construction markets in North America and Europe,” he said.

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