Gencorp reported net income of $21 million...

Gencorp reported net income of $21 million in its second quarter, compared to $187 million in the year-ago period when the company had a $212-million gain from the sale of WOR-TV in New York, which was partially offset by a $57-million after-tax charge for recapitalization and restructuring. Gencorp is an Akron, Ohio-based producer of aerospace, automotive and related polymer products. The firm said its income from continuing operations was $20 million, virtually the same as in the second quarter of 1987, excluding the recapitalization and restructuring charges incurred last year.