Printer Friendly

ALBA-WALDENSIAN ANNOUNCES EARNINGS

 ALBA-WALDENSIAN ANNOUNCES EARNINGS
 VALDESE, N.C., May 12 /PRNewswire/ -- ALBA-WALDENSIAN, INC.


(NYSE: AWS), a diversified knitwear producer, announced net income of $243,936 on sales of $9,673,127 for the first quarter ending March 31, 1992. This compares to net income of $129,610 on sales of $10,169,092 in the same quarter a year ago.
 "First quarter sales were below the same period in 1991 but were substantially better than planned. The first quarter of 1991 reflected large pipe-line no-nonsense(R) panty orders not included in the 1992 projections. Of more importance is the improved net profits when comparing the first quarter of 1992 to the same three month period in 1991. Net earnings showed substantial improvement due to better gross margins resulting from various cost reduction programs as well as lower advertising and marketing expenses primarily due to timing differences. Management is optimistic concerning the net income for the year and is encouraged by the reception that our no-nonsense brand of panties has received in existing as well as new accounts," said William F. Marmion-Karnbach, President & CEO.
 ALBA-WALDENSIAN, INC. manufactures women's and men's hosiery, women's intimate apparel, and medical specialty products. The Company presently employs approximately 800 employees in four locations in Valdese, N.C.
 Three Months Ending
 March 31
 1992 1991
 Net Sales $ 9,673,127 $10,169,092
 Earnings Before Taxes $ 369,600 $ 196,378
 Provision For Income Taxes 125,664 66,768
 Net Earnings $ 243,936 $ 129,610
 Net Earnings (Loss) Per
 Common Share $.13 $.07
 Dividends Paid Per Share $ -- $ --
 Average Number of Shares
 Outstanding 1,819,362 1,823,653
 -0- 5/12/92
 /CONTACT: Van C. Irwin, ALBA-WALDENSIAN, INC., 704-874-2191/
 (AWS) CO: ALBA-WALDENSIAN, INC. ST: North Carolina IN: TEX MTC SU: ERN


CM -- CH001 -- 8956 05/12/92 08:58 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 12, 1992
Words:300
Previous Article:THE LIMITED, INC. REPORTS FIRST QUARTER SALES INCREASED 10 PERCENT
Next Article:AT&T CALLS DEBT ISSUE FOR REDEMPTION
Topics:


Related Articles
ALBA-WALDENSIAN ANNOUNCES EARNINGS
ALBA-WALDENSIAN, INC. ANNOUNCES EARNINGS
ALBA-WALDENSIAN ANNOUNCES INCREASED EARNINGS FOR 2ND QUARTER
ALBA OPERATING PROFIT UP 39.4% ON 11.6% SALES INCREASE
ALBA PROJECTS 4TH QUARTER EARNINGS
ALBA RE-FORECASTS 4TH QUARTER EARNINGS
ALBA ANNOUNCES SECOND QUARTER RESULTS
ALBA ANNOUNCES SECOND QUARTER RESULTS
Alba Announces Third Quarter Results
Alba Announces Bottom Line Turn-Around For 1996

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters