W. R. Grace & Co. reported a...

W. R. Grace & Co. reported a 61% decrease in second-quarter earnings, despite a sharp rise in income from continuing operations to $36 million from $6.6 million. Net income fell to $33.7 million from $86.4 million. The company attributed the decline to its 1986 restructuring program, which involved the sale of most of its previously discontinued retail operations, as well as most of its restaurant group and the reduction of the carrying value of other operating assets, particularly in its natural resources sector.