RPM reports first quarter results.RPM (1) (Revolutions Per Minute) With electric and electronics devices, RPM measures the rotational speed of the motor's spindle. Floppy disks rotate at 300 RPM, while hard disks rotate from 3,000 to 15,000 RPM. International recorded record quarter for sales, earnings and earnings per share for its fiscal 2005 first quarter ended Aug. 31. "Market demand remained solid in both our industrial and consumer segments during our first quarter," said Frank C. Sullivan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We continue to successfully supplement underlying growth with the introduction of new products and services, which are quickly gaining market acceptance." RPM reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $661.5 million in first quarter, a 13.9% increase over last year's first quarter. Organic growth drove up sales by $65.5 million, or 11.3%. Acquisitions, net of a small divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). , added $8.2 million, or 1.4%, and net favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. foreign exchange rates contributed $6.8 million, or 1.2%, to the sales growth. Net income reached $54.5 million, an improvement of 14.3% over last year's first quarter, while diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of rose to a record $0.47, a 14.6% improvement compared with the first quarter of fiscal 2004. "We are pleased with the strong growth in our first quarter, though it is important to note that we may not be able to sustain this level of sales growth as we face tougher comparisons to the prior year in the coming quarters," said Sullivan. "Additionally, rising raw material prices will continue to be a concern. Despite these challenges, we continue to anticipate high single-digit growth in revenues and 10-12% earnings growth for the full 2005 fiscal year." |
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