RPM cash from operations decreases $33.6 million since last year

By Aleesia Forni

Columbus, Ohio, Oct. 5 - RPM International Inc. reported cash from operations of $7.5 million during the fiscal 2012 first quarter, compared to $41.1 million during the same quarter last year.

"Increases in working capital attributable to the higher material cost and significantly higher sales growth were the main factors attributable to this decrease," chief financial officer Robert L. Matejka said during the company's quarterly earnings conference call.

The company reported total debt of $1.1 billion as of Aug. 31, compared to $935.8 million during first quarter fiscal 2011.

As of Aug. 31, RPM reported total liquidity of $834.3 million, including $373 million of cash.

"RPM continues to have a strong capital structure and liquidity position that will enable us to bolster our acquisition program, while funding ongoing operating needs and our dividend program," chief executive officer Frank C. Sullivan stated in a company press release.

RPM is a Medina, Ohio-based holding company with subsidiaries manufacturing and marketing coatings, sealants and specialty chemicals.

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