RPM quarterly result show income fall

MEDINA, Ohio (Jan. 18)—RPM Inc.´s fiscal second-quarter 2001 results showed a slight fall in income from the same period of fiscal 2000, while six-month earnings showed a rise. For the quarter ended Nov. 30, 2000, RPM reported net income of $16.9 million, or 17 cents per diluted share, compared to $20.4 million, or 19 cents per share, in fiscal 2000. Net sales for the period were $498.1 million, compared to $500.4 millions a year ago. Six-month figures showed net income of $45.7 million, or 45 cents per share, up from the prior year´s net income of $27.6 million, or 25 cents per share. Net sales for the half-year were $1.05 billion, compared to $996 million a year ago. Both quarterly and six-month results reflect a major increase in interest expense and the loss of net sales and operating earnings from former business units that were divested during fiscal 2000, RPM said. Despite six-month growth, RPM cited a slowing overall economy and record cold temperatures as factors contributing to the second-quarter slowdown.