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TULTEX CORPORATION REPORTS SIGNIFICANTLY IMPROVED FINANCIAL RESULTS FOR FIRST QUARTER 1993

 MARTINSVILLE, Va., April 22 /PRNewswire/ -- Tultex Corporation (NYSE: TTX), one of the nation's largest manufacturers and marketers of activewear and licensed sports apparel, today reported a 29 percent increase in sales, while reducing losses by 53 percent in the company's seasonally weak first quarter.
 Sales for the first quarter ended April 3, 1993, were $91,022,000, compared to $70,762,000 for the first quarter of 1992. The net loss for the quarter was $1,443,000, or 6 cents per share, vs. a loss of $3,058,000, or 11 cents per share, for the same period last year. First quarter of both years includes the financial results of the company's 1992 acquisitions, Logo 7 and Universal Industries.
 "First quarter is usually our weakest, and we are very pleased with the results for first quarter 1993," said John Franck, chairman and chief executive officer. "Our expansion in T-shirts, caps and licensed sports apparel has enabled us to reduce the loss we usually incur in the first quarter."
 This is the company's fifth consecutive quarter of improved financial comparisons. "Improving the seasonality of earnings is one of our main objectives, and we are seeing evidence of success in this area. Our licensed sportswear business continues to grow and contribute to our success," said Franck. "With our Logo 7 subsidiary, Tultex is a major player in the licensed sports apparel business with the number two position in this exciting market.
 "We expect to see continued improvement in sales and earnings for the balance of 1993. Our order position is strong, and we anticipate full production schedules for the remainder of the year," concluded Franck.
 Tultex, a vertically integrated manufacturer and marketer of activewear and licensed sports apparel, sells many of its products under the brand names of Tultex, 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 for per share data)
 Three Months Ended
 4/3/93 3/28/92
 Net Sales and Other Income $91,022 $70,762
 Income (Loss) Before Taxes $(2,295) $(4,849)
 Income Taxes (852) (1,791)
 Net Income (Loss) $(1,443) $(3,058)
 Earnings (Loss) Per Share $ (0.06) $ (0.11)
 Weighted Average Common
 Shares Outstanding 28,878 28,864
 -0- 4/22/93
 /NOTE: Tultex, 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

DC-MH -- DC006 -- 9313 04/22/93 10:40 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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