PPG Reports First Quarter Earnings

Date: 20 April 2012
Source: www.ppg.com

Date: 20 April 2012

 - 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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600450 PPG Reports First Quarter Earnings glassonweb.com

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