International. PPG Industries reported net sales for the third quarter of 2015 for continuing operations of $3.87 billion, up from a year earlier of $3.94 billion. Net sales in local currency increased by 6%, or approximately $250 million, year-over-year, which included a 7% contribution of acquisition-related sales offset by lower sales volumes of less than 1%.
The unfavorable translation of foreign currency reduced net year-over-year sales by about 8%, or about $310 million.
The third quarter reported net income from continuing operations of $433 million, or $1.59 per diluted share, and its adjusted net income from continuing operations was $439 million, or $1.61 per diluted share, setting a new third-quarter record for the company.
Net income from continuing operations for the third quarter of 2015 includes after-tax expenses for pension neo-seres and transaction-related costs totaling $6 million, or 2 cents per diluted share.
Regionally, it achieved a higher sales volume in Europe. Year-over-year sales volumes grew in Asia. Sales volume in the U.S. and Canadian markets were lower year-over-year, mainly due to customer inventory management. Demand from South America weakened compared to the previous quarter.
