PPG Industries reported third quarter 2012 net sales of 3.8 billion USD. Net income for the quarter was 339 million USD, or 2.18 USD per diluted share, including nonrecurring charges
PPG Industries (NYSE:PPG) reported third quarter 2012 net sales of 3.8 billion USD. Net income for the quarter was 339 million USD, or 2.18 USD per diluted share, including nonrecurring charges. Adjusted net income for the quarter, excluding the nonrecurring charges, was 348 million USD, or 2.24 USD per diluted share. Third quarter 2011 net sales were 3.8 billion USD, and net income was 311 million USD, or 1.96 USD per diluted share.
Third quarter 2012 results included after-tax charges of 9 million USD, or 6 cents USD per diluted share, for costs directly related to the company’s previously announced agreement to separate its commodity chemicals business and merge it with Georgia Gulf Corporation or a subsidiary of Georgia Gulf. The company anticipates additional separation costs in the fourth quarter. There were no nonrecurring charges in the third quarter 2011. A Regulation G Reconciliation of third quarter 2012 adjusted net income and earnings per diluted share to reported net income and earnings per diluted share is included below.
For more information, see:Â http://www.ppg.com/en/newsroom/news/Pages/20121018A.aspx