{"id":19215,"date":"2012-01-19T12:27:00","date_gmt":"2012-01-19T12:27:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/ppg-industries-record-fourth-quarter-full-year-earnings-per-share\/19211\/"},"modified":"2012-01-19T12:27:00","modified_gmt":"2012-01-19T12:27:00","slug":"ppg-industries-record-fourth-quarter-full-year-earnings-per-share","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/ppg-industries-record-fourth-quarter-full-year-earnings-per-share\/19215\/","title":{"rendered":"PPG Industries &#8211; Record fourth quarter, full year earnings per share"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>PPG Industries (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=PPG\">NYSE:PPG<\/a>)<\/strong> reported net sales for the fourth quarter 2011 of $3.5 billion, an increase of 4 percent versus the prior year\u2019s fourth quarter. Net income for the quarter increased to $216 million, or $1.39 per diluted share. Fourth quarter 2010 net sales were $3.4 billion, and net income was $205 million, or $1.24 per diluted share.<\/p>\n<ul>\n<li>Fourth quarter 2011 sales of $3.5 billion; full year 2011 sales of $14.9 billion<\/li>\n<li>Record fourth quarter earnings per share of $1.39, up 12 percent versus 2010<\/li>\n<li>Record full year earnings per share of $6.87<\/li>\n<li>Repurchases totaling 2.7 million shares during quarter, 10.2 million shares during 2011<\/li>\n<li>Cash and short-term investments of $1.5 billion at end of 2011<\/li>\n<li>2011 return on capital of 16.6 percent<\/li>\n<\/ul>\n<p>PPG\u2019s annual sales for 2011 were $14.9 billion, an increase of 11 percent versus 2010 sales of $13.4 billion. PPG\u2019s full year 2011 net income was $1.1 billion, or $6.87 per diluted share, versus 2010 net income of $769 million, or $4.63 per diluted share. Full year 2010 adjusted net income was $854 million, or $5.14 per diluted share. The company\u2019s full year tax rate on ongoing earnings was 25 percent in 2011 and 26 percent in 2010. A Regulation G Reconciliation of adjusted net income to reported net income is included below.<\/p>\n<p>\u201cPPG achieved record earnings per share each quarter this year by focusing on strong execution in its global businesses, aggressive cost management and amplified cash deployment,\u201d said Charles E. Bunch, PPG chairman and CEO. \u201cIn so doing, we delivered the best full year earnings per share in PPG\u2019s history.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>\u201cThis strong performance was achieved despite moderating global growth rates during the fourth quarter,\u201d Bunch said. \u201cDuring the year, we experienced uneven economic conditions, persistent raw material inflation, and continued anemic construction activity in developed regions. However, the geographic and end-use market diversity of our business portfolio continued to be an important benefit in 2011.\u201d<\/p>\n<p>For the fourth quarter, Bunch noted that volumes were flat with the prior-year period, as some customers curtailed inventory and remained cautious with their ordering patterns in light of economic uncertainty. This was most evident in Europe, where overall sales volumes fell by 1 percent, and in PPG\u2019s Commodity Chemicals segment.<\/p>\n<p>However, Bunch said that PPG experienced strengthening global demand during the fourth quarter in several end-use markets, including aerospace, automotive manufacturing and several general industrial markets. He added that this higher demand was supplemented by PPG market share gains.<\/p>\n<p>\u201cDuring the quarter, we continued to aggressively pursue price increases and made further progress in countering high raw material cost inflation. Although prices of many raw materials have stabilized, we plan to implement additional price increases in 2012 to offset the inflation we have already absorbed,\u201d Bunch said.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-mixed-finish-7\/19317\"><br \/>\nStocks Headed for a Mixed Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-in-green-in-mid-day-trading-2\/19311\"><br \/>\nGold and Silver Prices in Green in Mid-Day Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/comerica-incorporated-record-deposit-levels-of-47-8-billion-at-year-end\/19305\"><br \/>\nComerica Incorporated &#8211; Record deposit levels of $47.8 billion at year-end<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/treehouse-foods-surprised-by-the-sudden-decrease-in-december-volumes\/19303\"><br \/>\nTreeHouse Foods &#8211; Surprised by the sudden decrease in December volumes<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/first-horizon-national-2011-was-another-year-of-significant-progress\/19301\"><br \/>\nFirst Horizon National &#8211; 2011 was another year of significant progress<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/sonoco-implementing-further-cost-reduction-actions-in-response-to-changing-business-conditions\/19300\"><br \/>\nSonoco &#8211; Implementing further cost reduction actions in response to changing business conditions<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/fifth-third-bancorp-2011-results-clearly-demonstrated-continued-improvement\/19298\"><br \/>\nFifth Third Bancorp &#8211; 2011 results clearly demonstrated continued improvement<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>PPG Industries (NYSE:PPG) reported net sales for the fourth quarter 2011 of $3.5 billion, an increase of 4 percent versus [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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