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TULTEX ACHIEVES HALF BILLION IN SALES WITH 132 PERCENT INCREASE IN OPERATING EARNINGS FOR 1992

 MARTINSVILLE, Va., Feb. 9 /PRNewswire/ -- Tultex Corporation (NYSE: TTX) today announced a 62 percent increase in 1992 net income with sales in excess of a half billion dollars. For the fiscal year ending Jan. 2, 1993, net income increased to $17,192,000, or 56 cents per share, from $10,588,000, or 37 cents per share, in 1991. On an operating income basis, this is an improvement of 132 percent over 1991. 1991's net income included $2,848,000, or 10 cents per share, resulting from changes relating to accounting for income taxes and before-tax gain of $4,014,000, or 9 cents per share, on the sale of assets.
 "We saw strong sales and earnings improvements in all business segments, particularly in T-shirts and our Logo 7 and Universal subsidiaries," said John Franck, chairman and CEO. "We now enjoy the number two market share position in licensed sports apparel. With these exciting business components in place, we foresee significant 1993 opportunities for improved margins, lower selling, general and administrative expenses as a percentage of sales, higher inventory turns and a significantly enhanced competitive position."
 Franck continued: "Our capital expenditures will approximate depreciation expense for 1993, which will total $23 million. We're adding capacity in our growth areas -- particularly T-shirts, and spending dollars where we can see a significant return on investment.
 "Overall, we are pleased with our company's performance and have enjoyed four straight quarters of consistently improved operating earnings," said Franck. "Our order backlog at year-end for non- decorated apparel is up 25 percent over the previous year. Our product offering is much broader and right in step with the lifestyle of today's consumer. Through a work force that is customer focused, stronger brand recognition, and increased business overseas, we currently expect to see continued improvements in 1993."
 Tultex is a vertically integrated manufacturer and marketer of activewear and licensed sports apparel, selling many of its products under the Tultex, Brittania, Discus Athletic, Logo 7 and Logo Athletic brand names. The company operates manufacturing plants in Virginia, North Carolina, Indiana, Massachusetts and Jamaica.
 TULTEX CORPORATION
 Consolidated Statement of Income
 (000's omitted except per share data)
 Three Months Ended Fiscal Year Ended
 1-2-93 12-28-91 1-2-93 12-28-91
 Net Sales and
 Other Income $163,452 $129,980 $503,946 $349,910
 Income Before Income
 Taxes and Cumulative
 Effect of a Change
 in Accounting
 Principle $18,164 $10,721 $26,502 $11,417
 Income Taxes 6,438 3,249 9,310 3,677
 Income Before Cumulative
 Effect of a Change in
 Accounting Principle 11,726 7,472 17,192 7,740
 Cumulative Effect of
 a Change in
 Accounting Principle -- -- -- 2,848
 Net Income $11,726 $7,472 $17,192 $10,588
 Earnings per Common Share:
 Income Before Cumulative
 Effect of a Change in
 Accounting Principle $ 0.40 $ 0.26 $ 0.56 $ 0.27
 Net Income $ 0.40 $ 0.26 $ 0.56 $ 0.37
 Weighted Average Common
 Shares Outstanding 28,877 28,862 28,872 28,862
 -0- 2/9/93
 /NOTE: Tultex, Brittania, Discus Athletic, Logo 7 and Logo Athletic are registered trademarks./
 /CONTACT: Kathy Rogers, director, public relations and communications, Tultex Corporation, 703-632-2961 ext. 3830 or, fax, 703-632-8000/
 (TTX)


CO: Tultex Corporation ST: Virginia IN: TEX SU: ERN

KD -- DC016 -- 4676 02/09/93 12:28 EST
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Date:Feb 9, 1993
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