Ppg Industries: Profit Up In Emerging Regions

PPG Industries Inc. reported a better-than-expected Q3 profit due to strong emerging market sales. Earnings totalled US$ 262M, or US$ 1.58/share, compared to US$ 159M, or 96 cents/share, in the same period 2009. Revenue increased to 7.3% to US$ 3.46BN, compared to the US$ 3.41BN expected by analysts. Made up the greater part of this increase despite "anaemic" construction markets in the developed economies of the world. "While we anticipate continued gradual recovery in economic conditions, the fourth quarter is traditionally a slower sales quarter for most of our businesses due to seasonality," CEO Charles Bunch said in a statement.