PPG reports first quarter 2010 financial results

PPG Industries, Pittsburgh,today [April 15]reported sales for the first quarter of $3.1 billion, an increase of 12 percent vs. the prior year’s first quarter, according to an April 15 release. First quarter reported net income was $30 million, or 18 cents per share, which included a significant charge related to a change in U.S. tax law. Adjusted net income was $117 million, or 70 cents per share. First quarter 2009 sales were $2.8 billion and the reported loss was $111 million, or 68 cents per share, which included a significant charge for business restructuring. Adjusted net income was $32 million, or 19 cents per share.

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