PPG Reports On Fourth Quarter
February 12, 2001
PPG Industries' fourth quarter 2000 net income was $126 million, or 75 cents a share, on sales of $1.99 billion. This compares with fourth quarter 1999 net income of $162 million, or 92 cents a share, including an acquisition-related after-tax charge of $2 million, or one cent a share. Sales were $2.05 billion. For all of 2000, PPG's net income was $620 million, or $3.57 a share, including after-tax charges totaling $38 million, or 22 cents a share, to write off an equity investment and rationalize the recently formed PPG Auto Glass automotive replacement glass distribution venture. Excluding the charges, net income was $658 million, or $3.79 a share. Sales were a record $8.37 billion. Net income for all of 1999 was $568 million, or $3.23 a share, including $79 million, or 45 cents a share, in after- tax acquisition-related costs and restructuring charges. Excluding these one-time items, 1999 net income was $647 million, or $3.68 a share. Sales were $7.76 billion.
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