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RPM REPORTS RECORD THIRD QUARTER SALES, EARNINGS AND EARNINGS PER SHARE

 RPM REPORTS RECORD THIRD QUARTER SALES,
 EARNINGS AND EARNINGS PER SHARE
 MEDINA, Ohio, April 14 /PRNewswire/ -- RPM, Inc. (NASDAQ: RPOW) today announced that sales earnings and earnings per share set record levels for the third quarter period ended Feb. 29, 1992.
 Sales for the third quarter increased 21 percent to a record $125,459,516 from the prior year's record sales of $103,884,973. Earnings increased 29 percent to a record $4,306,164 from the prior year's record third quarter earnings of $3,337,030. RPM recorded record earnings per share for the third quarter of $.14 versus the prior year's record of $.11, a 27 percent increase.
 For the nine-month period ended Feb. 29, 1992, RPM reported record sales of $394,964,397, a 6 percent increase over the prior year's record of $372,494,394. Record earnings for the nine-month period were $24,598,463, a marginal increase over the prior year's nine-month record earnings of $24,587,050. Earnings per share for the nine-month period of $.79 were even with the prior year's record nine-month earnings per share of $.79.
 The prior year results have been restated for the May 1991 acquisition of Chemical Coatings, Inc. on a pooling-of-interest basis.
 The strong third quarter results were in line with RPM's management expectations. This strong performance resulted, in part, from the combination of divestiture and acquisition activities over the past eighteen months, somewhat evening out the historical seasonality of RPM's results. Most importantly, RPM has experienced strong performance by its core business operations.
 RPM indicated it was pleased with he record results attained during the third quarter of fiscal 1992. RPM expects strong gains during the fourth quarter and attainment of its 45th consecutive record year of sales, earnings and earnings per share.
 As previously reported, the acquisition of Martin Mathys, N.V. by RPM's Radiant Color, N.V. subsidiary was completed on March 26, 1992. With annual sales of $24 million, Martin Mathys has strong profitability and good synergy with existing RPM companies, and will be an excellent addition to RPM's European operations.
 The RPM Board of Directors declared on April 8, 1992, the regular quarterly cash dividend of $.17 per share to be paid on April 30, 1992 to shareholders of record April 20, 1992. This quarterly dividend represents a 10 percent increase over the prior year's quarterly cash dividend of $.155. This is the 18th consecutive year in which RPM has increased its cash dividend to shareholders.
 RPM, Inc. is a manufacturer of specialty coatings and products for the waterproofing and corrosion control markets, and the consumer, do-it-yourself, hobby and craft, and marine markets. RPM markets products to approximately 75 countries annually and operates 44 plants in the United States, Canada and Europe. RPM shares are traded on the NASDAQ National Market System. The fiscal year ended May 31, 1991, was RPM's 44th consecutive record year of sales, earnings and earnings per share, with sales of $500,257,705, earnings of $31,849,041 and earnings per share of $1.03.
 CONSOLDIATED CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Nine Months Ended
 Feb. 29, 1992 Feb. 28, 1991
 (Restated A)
 Net Sales $394,964,397 $372,494,394
 Cost of Sales 229,969,626 220,110,005
 Gross Profit $164,994,771 $152,384,389
 Selling, General &
 Administrative Expenses 124,002,452 111,520,315
 Income Before Income Taxes
 & Minority Interest $40,992,319 $40,864,074
 Provision for Income Taxes 16,396,928 16,295,792
 Income Before Minority
 Interest $24,595,391 $24,568,282
 Minority Interest in
 Consolidated Subsidiaries (3,072) (18,768)
 Net Income $24,598,463 $24,587,050
 Earnings per Common Share
 & Common Share Equivalent(A)(B) $.79 $.79
 Earnings per Common Share Assuming
 Full Dilution(A)(B) $.77 $.78
 Three Months Ended
 Feb. 29, 1992 Feb. 28, 1991
 (Restated A)
 Net Sales $125,459,516 $103,884,973
 Cost of Sales 75,355,813 64,406,682
 Gross Profit $50,103,703 $39,478,291
 Selling, General &
 Administrative Expenses 42,937,801 33,905,148
 Income Before Income Taxes
 & Minority Interest $7,165,902 $5,573,143
 Provision for Income Taxes 2,866,361 2,228,079
 Income Before Minority
 Interest $4,229,541 $3,345,064
 Minority Interest in
 Consolidated Subsidiaries (6,623) 8,034
 Net Income $4,306,164 $3,337,030
 Earnings per Common Share
 & Common Share Equivalent(A) $.14 $.11
 Earnings per Common Share Assuming
 Full Dilution(A) $.14 $.11
 CONSOLIDATED CONDENSED BALANCE SHEETS
 (Unaudited)
 Feb. 29, Feb. 28,
 1992 1991
 (Restated A)
 ASSETS:
 Current Assets $237,277,124 $187,361,657
 Property, Plant & Equipment (net) 111,378,527 80,744,966
 Other Assets 168,830,450 108,579,617
 TOTAL ASSETS $517,468,101 $376,686,240
 LIABILITIES AND SHAREHOLDERS' EQUITY:
 Current Liabilities $76,667,188 $69,186,081
 Long-Term Debt 217,754,334 97,924,313
 Other Liabilities 7,065,087 5,633,656
 TOTAL LIABILITIES $301,486,609 $172,744,050
 Shareholders' Equity 215,999,492 203,942,190
 TOTAL LIABILITIES &
 SHAREHOLDERS' EQUITY $517,486,101 $376,686,240
 Current Ratio 3.1:1 2.7:1
 Shareholders' Equity per Share(A)(B) $6.90 $6.59
 Working Capital $160,609,936 $118,175,576
 (A) -- Restated to reflect the acquisition of Chemical Coatings, Inc. in May 1991.
 (B) -- Weighted average shares outstanding, including common share equivalents, totaled 31,324,149 in 1992 and 30,951,763 in 1991.
 -0- 4/14/92
 /CONTACT: Thomas C. Sullivan or James A. Karman, 216-273-5090, both of RPM Inc./
 (RPOW) CO: RPM Inc. ST: Ohio IN: CHM MAC SU: ERN


CG -- CL006 -- 8203 04/14/92 11:04 EDT
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