July 23, 2012 / 12:16 PM / in 5 years

UPDATE 2-RPM beats estimates but sees lower growth in 2013

2 Min Read

* Q4 EPS $0.63 vs est $0.61

* Q4 rev up 12 pct to $1.1 bln

* Sees growth slowing to 5-10 percent in coming year

July 23 (Reuters) - Coatings and sealants maker RPM International Inc's fourth-quarter profit beat analysts' estimates on higher demand for coatings products from energy markets but the company forecast growth to slow in 2013.

RPM forecast sales and profit growth of 5-10 percent in the year to May 31, 2013, due to a slowdown in investment in industrial markets, and declining sales and earnings in Europe.

That was downbeat compared with fourth quarter sales up 12 percent and net profit up 18 percent.

RPM, which sells brands like Rust-Oleum, Day-Glo, Tremco, Stonhard and Carbonite, said it expects its consumer segment to grow 5-7 percent in 2013 and its industrial segment to grow 6-10 percent.

Sales in its industrial segment, which makes up almost two-thirds of the business, grew about 16 percent in the fourth quarter.

RPM also sells professional do-it-yourself products for home improvement and leisure activities.

Net profit rose to $82.6 million, or 63 cents per share, from $70.2 million, or 54 cent per share, a year earlier.

Revenue rose to $1.1 billion from $981.8 million.

Analysts on average had expected a profit of 61 cents a share on revenue of $1.08 billion, according to Thomson Reuters I/B/E/S.

The Medina, Ohio-based company's shares closed at $27.24 on Friday on the New York Stock Exchange.

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