RPM reported net income for its fiscal second quarter ended November 30 up 34%, to $55.9 million, on sales down 4%, to $859 million. Earnings before interest and taxes rose 19%, to $93 million. Cost reduction programs begun last year helped drive up profits, says chairman and CEO Frank Sullivan. Consumer segment sales growth was modest, while revenues from the lager industrial segment "remained under pressure," Sullivan says. RPM's also saw raw material cost relief during the quarter.
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