Ppg Industries (PPG) has reported 9.55 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $344 million, or $1.30 a share in the quarter, compared with $314 million, or $1.16 a share for the same period last year. On an adjusted basis, net profit from continuing operations for the quarter was stable at $313 million, or $1.19 a share, when compared with the last year period. 

Revenue during the quarter went down marginally by 1.55 percent to $3,497 million from $3,552 million in the previous year period. Gross margin for the quarter contracted 5 basis points over the previous year period to 43.72 percent. Total expenses were 92.48 percent of quarterly revenues, up from 87.75 percent for the same period last year. That has resulted in a contraction of 473 basis points in operating margin to 7.52 percent.

Operating income for the quarter was $263 million, compared with $435 million in the previous year period.

"We delivered fourth quarter and full-year adjusted earnings-per-diluted-share growth despite modest and uneven global economic growth and the impact of significant unfavorable foreign currency translation," said Michael H. McGarry, PPG chairman and chief executive officer. "We achieved these milestones due to improving sales volumes, continued aggressive cost management and ongoing earnings-accretive focused cash deployment.