RPM net income slips while sales rise

MEDINA, Ohio (July 25)—Costs related to a restructuring and profit shortfalls in some operating divisions ended RPM Inc.´s streak of 53 consecutive years of record earnings. The company reported net income after the extraordinary charges slipped to $41 million, while sales rose 14 percent to $1.95 billion for fiscal 2000, ended May 31. For the fourth quarter, net income declined 73 percent to $9.6 million while sales increased 15 percent to a record $547 million.