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ALBA-WALDENSIAN, INC. ANNOUNCES THIRD QUARTER EARNINGS

 ALBA-WALDENSIAN, INC. ANNOUNCES THIRD QUARTER EARNINGS
 VALDESE, N.C., Nov. 12 /PRNewswire/ -- Alba-Walensian, Inc. (AMEX: AWS), a diversified manufacturer of consumer and medical specialty products, announced third quarter (ending Sept. 30, 1992) net earnings of $322,358 on sales of $10,547,873.
 These results compare to net earnings of $454,701 on sales of $9,696,440 in the same quarter a year ago.
 Year to date earnings through the third quarter were $964,262 on sales of $30,038,267, compared to earnings of $935,570 on sales of $29,432,212 in the year ago nine month period.
 "Alba's operating profits in the third quarter were quite good," said Thomas F. Schuster, President and CEO. "Results of our year-ago third quarter included a one time insurance gain of $160,000 and a reversal of unused mark-down reserves of $378,000.
 "In light of all that's been going on in our economy, the third quarter sales increase of 8.8 percent was excellent. On a total company basis, our sales have increased for the second quarter in a row, in all divisions.
 "Our Consumer Products Division has turned the corner, with a sales increase of 4.2 percent after a first quarter decline of 5.3 percent and a second quarter decline of 2.3 percent. Consumer acceptance of the Division's recently introduced Queensized thigh control pantyhose confirms Alba's position as the nation's leading fit experts. Alba's Health Products Division had a sales increase of 12 percent in the quarter, while the Alba Direct Division grew its sales 72 percent. These results reflect everyone's dedication to fulfilling Alba's corporate mission of Profitably Growing Sales and we continue to feel optimistic about the future."
 Alba-Waldensian, Inc., manufactures women's hosiery and intimate apparel and medical specialty products. The company employs 800 people in four locations in Valdese, N.C.
 Three Months Ended
 Sept. 30
 1992 1991
 Net Sales $10,547,873 $9,696,440
 Income Before Taxes $ 488,422 $ 606,471
 Provision For Income Taxes 166,064 151,770
 Net Income $ 322,358 $ 454,701
 Net Income Per Common Share $.18 $.25
 Average Number of Shares Outstanding 1,824,576 1,818,902
 Nine Months Ended
 Sept. 30
 1992 1991
 Net Sales $ 30,038,267 $29,432,212
 Income Before Taxes $ 1,461,003 $ 1,335,060
 Provision For Income Taxes 496,741 399,490
 Net Income $ 964,262 $ 935,570
 Net Income Per Common Share $.53 $.51
 Average Number of Shares Outstanding 1,824,576 1,822,533
 -0- 11/12/92
 /CONTACT: Van C. Irwin, Alba-Waldensian, 704-879-6500/
 (AWS) CO: Alba-Waldensian, Inc. ST: North Carolina IN: TEX SU: ERN


MM-CM -- CH003 -- 0055 11/12/92 09:39 EST
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Publication:PR Newswire
Date:Nov 12, 1992
Words:449
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