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RPM International sees challenges from hurricanes

*RPM finished the October 6th session up by +0.91%...

Market Pulse: RPM International sees challenges from hurricanes
Thursday October 6, 8:19 am ET
By Steve Gelsi

NEW YORK (MarketWatch) -- RPM International said first-quarter net income fell to $50 million, or 40 cents a share, from $54.5 million, or 44 cents a share, in the year-ago period. Without asbestos-related costs, net income in the latest period was $59.3 million, or 47 cents a share. A survey of analysts by Thomson First Call forecast earnings of 48 cents a share. The company said its second quarter will be "particularly challenging" because of Hurricanes Rita and Katrina. Disruptions and temporary closure of some of its manufacturing and distribution facilities "will negatively impact sales growth," the company said. It may also see price spikes in raw materials. Shares closed at $17.65 on Wednesday.


LINK: http://biz.yahoo.com/cbsmb/051006/5368592d4bca45bdbc27226cd4149d75.html?.v=1