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RPM ANNOUNCES RECORD FIRST QUARTER SALES, EARNINGS AND EARNINGS PER SHARE; INCREASES CASH DIVIDEND 8 PERCENT

 MEDINA, Ohio, Oct. 8 /PRNewswire/ -- RPM, Inc. (NASDAQ: RPOW) today announced record results for its first quarter ended Aug. 31, 1993. Sales were a record $183.8 million, a 2.5 percent increase over the prior year's first quarter record sales of $179.4 million. Record earnings totaled $13.9 million, an 11 percent increase over the prior year's record earnings of $12.6 million. Record earnings per share totaled $.27, an 8 percent increase over the prior year's record first quarter earnings per share of $.25. RPM stated that its first quarter results are in line with expectations and that it was pleased with these results when compared to the prior year's first quarter, which was particularly strong. The record first quarter results and strong operating performance are a good indication that RPM will achieve its 47th consecutive record year of sales, earnings and earnings per share for the fiscal year ending May 31, 1994.
 Prior year results have been restated for the acquisition of Dynatron/Bondo Corporation, completed on June 8, 1993, on a pooling-of- interest basis. Prior year per share results have also been restated to reflect the 50 percent stock dividend issued to shareholders on Dec. 4, 1992.
 At the RPM Annual Meeting, shareholders re-elected the following directors to three-year terms: Roy H. Holdt, retired chairman and chief executive officer of White Consolidated Industries; E. Bradley Jones, retired chairman and chief executive officer of Republic Steel Corporation; and John H. Morris, executive vice president of RPM, Inc.
 In recognition of the positive outlook, the RPM board of directors increased the quarterly cash dividend to $.13, an 8 percent increase over the prior year's quarterly rate of $.12. This increase takes effect with the cash dividend payable Oct. 29, 1993, to shareholders of record Oct. 18, 1993. This is the 20th consecutive year in which RPM has increased its cash dividend to shareholders.
 RPM, Inc. is a manufacturer of industrial coatings and sealants for waterproofing and general maintenance, corrosion control and other specialty chemical applications. RPM also manufactures consumer do-it- yourself products for home maintenance, automotive repair, consumer hobby, leisure and marine markets. The fiscal year ended May 31, 1993, was RPM's 46th consecutive record year of sales, earnings and earnings per share, with restated sales of $674.5 million, earnings of $41.1 million and earnings per share of $.83. RPM shares are traded on the NASDAQ National Market System.
 CONSOLIDATED CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended Aug. 31,
 1993 1992
 Restated(A)
 In thousands, except per share amounts
 Net Sales $183,767 $179,375
 Cost of Sales 106,987 106,530
 Gross Profit $ 76,780 $ 72,845
 Selling, General & Administrative
 Expenses 52,576 51,663
 Income Before Income Taxes $ 24,204 $ 21,182
 Provision for Income Taxes 10,287 8,628
 Net Income $ 13,917 $ 12,554
 Earnings per Common Share
 & Common Share Equivalent(B) $.27 $.25
 Earnings per Common Share
 Assuming Full Dilution(B) $.25 $.24
 CONSOLIDATED CONDENSED BALANCE SHEETS
 (Unaudited)
 Aug. 31,
 1993 1992
 Restated(A)
 In thousands, except per share amounts
 Assets
 Current Assets $292,059 $292,767
 Property, Plant & Equipment (net) 143,016 132,912
 Other Assets 169,902 173,008
 Total Assets $604,977 $598,687
 Liabilities and Shareholders' Equity
 Current Liabilities $102,958 $111,034
 Long-Term Debt 182,986 236,331
 Other Liabilities 6,872 7,804
 Total Liabilities $292,816 $355,169
 Shareholders' Equity 312,161 243,518
 Total Liabilities &
 Shareholders' Equity $604,977 $598,687
 Current Ratio 2.8:1 2.6:1
 Shareholders' Equity per Share(B) $5.99 $4.90
 Working Capital $189,101 $181,733
 (A) -- Restated to reflect the June 1993 acquisition of Dynatron/Bondo Corporation.
 (B) -- Weighted average shares outstanding, including common share equivalents, totaled 52,149,393 in 1993 and 49,675,078 in 1992. Per share data have been restated to reflect a 50 percent stock dividend on Dec. 2, 1992.
 -0- 10/8/93
 /CONTACT: Thomas C. Sullivan or James A. Karman of RPM, 216-273-5090/
 (RPOW)


CO: RPM, Inc. ST: Ohio IN: CHM SU: ERN DIV

AR-BM -- CL002 -- 0232 10/08/93 14:34 EDT
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Date:Oct 8, 1993
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