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CARRIAGE INDUSTRIES REPORTS SECOND QUARTER AND SIX MONTHS RESULTS

 CARRIAGE INDUSTRIES REPORTS SECOND QUARTER AND SIX MONTHS RESULTS
 CALHOUN, Ga., Jan. 14 /PRNewswire/ -- Carriage Industries, Inc. (NYSE: CGE), a leading carpet manufacturer for specialized markets, today reported net sales of $28.6 million for the second quarter ended Dec. 29, 1991, up from $27.5 million last year.
 Net earnings for the quarter were approximately equal to the prior year, at a breakeven level.
 Sales in the first six months were $59.5 million, up from $59.1 million last year. Earnings for the period were $306,000, or $.07 per share, compared with earnings of $832,000, or $.20 per share, in the comparable period last year.
 "Weakness continues in many of our carpet markets, however, we increased sales by gaining market share," said Clarence E. Harris, chairman and chief executive officer. "Profitability of our carpet operations also improved somewhat, but was more than offset by disappointing results at Medart, our metal fabricating subsidiary."
 Commenting on Medart's results, Harris said: "Production schedules and efficiencies were disrupted during the quarter as we installed equipment and systems necessary to enable profitable future growth. Although inefficiencies are likely to continue into the third fiscal quarter, we are confident the results of these changes will be positive."
 Looking ahead for Carriage's carpet operations, Harris commented: "Consumer confidence must improve before we will see much progress. Until then, we will continue to closely monitor costs and focus on improving market share."
 Carriage Industries is a vertically integrated manufacturer of carpet for specialized markets. The company is a leading supplier to the manufactured housing, recreational vehicle, small boat and exposition/trade show industries. Carriage also produces carpet for the contract/residential, hospitality/commercial and home center/needlebond markets and operates a metal fabricating subsidiary.
 Corporate offices and most of Carriage's 1,000 employees are in Calhoun, Ga. Sales offices and distribution centers are strategically located across the United States. The company's transportation subsidiary operates one of the largest trucking fleets in the carpet industry.
 CARRIAGE INDUSTRIES INC.
 (In thousands, except per share data)
 (Unaudited)
 Income Statement Data
 2nd qtr. ended 12/29/91 12/30/90
 Net sales $ 28,598 $ 27,481
 Cost of sales 22,209 21,183
 Gross profit 6,389 6,298
 Selling, general and
 administrative expenses 5,721 5,380
 Operating income 668 918
 Interest expense 623 775
 Other expense 42 56
 Earnings before income taxes 3 87
 Income tax expense 1 77
 Net earnings $ 2 $ 10
 Net earnings per common share $.00 $.00
 Weighted average number of
 common shrs. outstanding 4,203 4,172
 6 mos. ended 12/29/91 12/30/90
 Net sales $ 59,488 $ 59,145
 Cost of sales 45,537 44,292
 Gross profit 13,951 14,853
 Selling, general and
 administrative expenses 12,000 11,638
 Operating income 1,951 3,215
 Interest expense 1,330 1,621
 Other expense 57 125
 Earnings before income taxes 564 1,469
 Income tax expense 258 637
 Net earnings $ 306 $ 832
 Net earnings per common share $.07 $.20
 Weighted average number of
 common shrs. outstanding 4,196 4,168
 Balance Sheet Data
 12/29/91 6/30/91
 (unaudited) (audited)
 Accounts receivable, net $11,179 $14,477
 Inventories 23,037 21,361
 Current assets 36,439 38,063
 Current liabilities 14,094 16,793
 Working capital 22,345 21,270
 Total assets 82,093 83,932
 Long-term debt, excluding current
 portion 30,194 29,622
 Stockholders' equity 31,886 31,963
 Stockholders' equity per share $7.58 $7.58
 -0- 1/14/92 R
 /CONTACT: Clarence E. Harris, chairman and CEO, or Steven G. Jones, vice president-Finance of Carriage Industries, 404-629-9234/
 (CGE) CO: Carriage Industries Inc. ST: Georgia IN: SU: ERN


GK -- AT003R -- 9428 01/14/92 09:40 EST
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