Printer Friendly

SHAW INDUSTRIES REPORTS RESULTS

 DALTON, Ga., July 19 /PRNewswire/ -- Shaw Industries, Inc. (NYSE: SHX) today reported unaudited results of operations for the fourth quarter and for the 12 months ended July 3, 1993.
 Sales for the quarter increased 33.9 percent to $669,275,000 from $499,797,000 for the same quarter last year. Net earnings increased 60.7 percent to $37,672,000 from $23,449,000 last year. Earnings per share, on a primary and fully diluted basis, were $.52 and $.36, respectively.
 Sales for the year were $2,320,810,000, up 32.5 percent from $1,751,285,000 last year. Net earnings increased 73.4 percent to $100,623,000 from $58,045,000 last year. Earnings per share, on a primary and fully diluted basis, increased to $1.43 per share from $.93, respectively.
 Robert E. Shaw, president and chief executive officer, said, "Our industry is now showing signs of recovery with significant increases over last year. If the general economy continues to show improvement, the carpet industry should have a strong recovery."
 Shaw Industries, Inc., with corporate offices in Dalton, manufactures and sells carpeting to retailers and distributors throughout the United States, the United Kingdom and exports to Canada and several other foreign markets.
 SHAW INDUSTRIES, INC.
 Condensed Consolidated Statement of Income
 (Unaudited)
 Three Months Ended 7/3/93 6/27/92
 Net sales $669,275,000 $499,797,000
 Costs and expenses 607,906,000 461,668,000
 Income before income taxes 61,369,000 38,129,000
 Provision for income taxes 23,697,000 14,680,000
 Net income 37,672,000 23,449,000
 Earnings per common share -
 On a primary and fully diluted
 basis $.52 $.36
 Weighted average shares -
 Primary 72,391,657 65,340,234
 Fully diluted 72,437,871 65,357,355
 12 Months Ended 7/3/93 6/27/92
 Net sales $2,320,810,000 $1,751,285,000
 Costs and expenses 2,157,814,000 1,657,065,000
 Income before income taxes 162,996,000 94,220,000
 Provision for income taxes 62,373,000 36,175,000
 Net income 100,623,000 58,045,000
 Earnings per common share -
 On a primary and fully diluted
 basis $1.43 $.93
 Weighted average shares -
 Primary 70,155,134 62,443,725
 Fully diluted 70,437,871 62,507,515
 -0- 7/19/93
 /CONTACT: Robert E. Shaw of Shaw Industries, 706-278-3812/
 (SHX)


CO: Shaw Industries, Inc. ST: Georgia IN: TEX SU: ERN

CK-PS -- NY031 -- 2970 07/19/93 10:23 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 19, 1993
Words:424
Previous Article:PEOPLE'S CHOICE TV CORP. COMPLETES $24 MILLION INITIAL PUBLIC STOCK OFFERING
Next Article:MCI ACTIVATES VNET CONNECTION BETWEEN U.S. AND IRELAND
Topics:


Related Articles
SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS EARNINGS
SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS THIRD QUARTER EARNINGS
SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS RESULTS
Shaw Industries, Inc., Releases Preliminary Results

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