United States. Paints and coatings maker PPG Industries reported fourth-quarter 2012 net sales of $3.6 billion and record earnings per share of $1.53, up 10% from 2011.
Earnings for the coatings segment grew 30% in the fourth quarter and 20% for the year. The company reported adjusted annual earnings per share of $7.94 and for the full year sales were $15.2 billion.
"Our record fourth-quarter results capped an exceptional year for the company, driven by excellent operating performance and several important strategic actions that have accelerated the pace of our portfolio transformation," said Charles E. Bunch, CEO of PPG.
In the performance coatings segment, sales during the fourth quarter were $1.2 billion, industrial coatings were $1.1 billion, and architectural segment recorded sales of $465 million.
Leave your comment