The following is a summary of the quarterly results of operations for the years ended May 31, 2013 and 2012:


	For Quarter Ended
(In thousands, except per share amounts)	August 31 (a)		November 30 (b)		February 28 (c)			May 31 (d)
2013
Net Sales	$	1,046,714	$	1,017,426	$	843,736		$	1,170,779
Gross Profit	$	433,880	$	425,001	$	343,564		$	500,274
Net Income (Loss) Attributable to
RPM International Inc. Stockholders	$	33,913	$	41,668	$	(42,356	)	$	65,378
Basic Earnings (Loss) Per Share	$	0.26	$	0.32	$	(0.33	)	$	0.49
Diluted Earnings (Loss) Per Share	$	0.26	$	0.31	$	(0.33	)	$	0.49

Dividends Per Share	$	0.215	$	0.225	$	0.225		$	0.225


(In thousands, except per share amounts)	August 31		November 30		February 29			May 31
2012
Net Sales	$	985,918	$	916,085	$	773,643		$	1,101,770
Gross Profit	$	409,626	$	369,021	$	303,200		$	460,416
Net Income Attributable to
RPM International Inc. Stockholders	$	76,811	$	49,931	$	6,625		$	82,569
Basic Earnings Per Share	$	0.59	$	0.38	$	0.05		$	0.63
Diluted Earnings Per Share	$	0.59	$	0.38	$	0.05		$	0.63

Dividends Per Share	$	0.210	$	0.215	$	0.215		$	0.215

(a)

For the quarter ended August 31, 2012, net sales and gross profit were reduced by $2.9 million and $5.4 million, respectively, for revised cost estimates on unprofitable contracts related to our industrial segment, and $5.6 million in exit costs associated with those activities that impacted pretax income. Additionally, we wrote down an investment in Kemrock totaling $40.3 million and recognized $5.0 million in bad debt from our loan to Kemrock. The combined impact on net income and earnings per share was $50.9 million and $0.38 per share, respectively.

(b)	For the quarter ended November 30, 2012, we wrote down our remaining investment in Kemrock, which impacted net income and earnings per share by $10.8 million and $0.09 per share, respectively.

(c)

For the quarter ended February 28, 2013, we accrued a loss of $68.8 million for a proposed settlement between our Building Solutions Group and the General Services Administration (“GSA”). Additionally, net income was impacted by $1.6 million for the impact of a strategic repositioning of certain industrial segment operations in Brazil. The combined impact of these items on net income and earnings per share for the third quarter was $51.0 million and $0.40 per share, respectively.

(d)

For the quarter ended May 31, 2013, we recorded $23.9 million in restructuring expense, including $3.9 million in inventory markdowns. We also recorded bad debt for the remaining amount of our loan to Kemrock totaling $4.0 million and wrote off our remaining investment in Kemrock common stock and in Kemrock convertible debt for a combined loss of $18.5 million. Additionally, we reduced our estimated accrual for our agreement in principle with the GSA by $3.7 million. The combined impact of these items on net income and earnings per share for the fourth quarter was $30.0 million and $0.23 per share, respectively.

Quarterly earnings per share may not total to the yearly earnings per share due to the weighted-average number of shares outstanding in each quarter.