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PPG net drops but company beats view; shares rise

Post Time:Oct 17,2008Classify:Industry NewsView:147

PPG said net income was $117 million, or 70 cents a share, compared with $191 million, or $1.15 a share, for the same period a year ago. Sales for the glass and paint supplier were $4.2 billion vs. last year's $3.1 billion, according to an Oct. 16 Market Watch report.

PPG's earnings were adversely affected by a number of unusual items, without which earnings would have been $227 million, or $1.37 a share. PPG was expected to report earnings of $1.27 a share on sales of $4 billion.

PPG shares closed up 14.8 percentat $51.09.

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Source: http://www.glassmagazine.com/news-item/commercial/ppg-net-drops-company-beats-view-shares-riseAuthor:

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