MCMINVILLE, Ore (Aug. 2)—Rubber mat maker RB Rubber Products Inc. reported a 24.9-percent decline in net income on static sales for the fiscal year ended April 30, reflecting a slowing economy, plant upgrades and higher costs. The company had net profits of $435,000 on sales of $11.2 million for the year. Besides the national economic woes, RB said equipment improvements at its Portland, Ore., hurt profits, along with lower production resulting gin higher unit costs at its Matting Division in McMinville. However, the Portland modernization is beginning to provide cost efficiencies at the unit.
RB Rubber Products net profits slide on flat sales
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