HIBBING, Minn. (Aug. 18)—Poor economic conditions in several markets it serves caused Industrial Rubber Products Inc. to record a net loss in the second quarter and for the first half. The Hibbing-based company was $135,089 in the red for the second period, compared with net profits of $81,302 in the corresponding period last year, as sales fell 11.5 percent to $2.83 million. For the six months, the firm had a net loss of $192,658, compared with a loss of $390,352 in the first six months of 2002. Sales slipped 14.4 percent to $5.88 million. Business has been improving, the company said, and sales should continue to grow in the second half of the year.