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ALBA-WALDENSIAN, INC. SALES INCREASE 21 PERCENT IN QUARTER

 VALDESE, N.C., Aug. 17 /PRNewswire/ -- Alba-Waldensian, Inc. (AMEX: AWS), a diversified manufacturer of consumer and medical specialty products, announced a 21 percent sales increase over the prior year for the second quarter of 1993. 1993 net sales were $11,869,929 compared to prior year sales of $9,817,267 for the second quarter.
 Profit after tax declined however from $398,000 in 1992 to $98,800 in 1993.
 According to Thomas F. Schuster, president and CEO: "We're naturally quite pleased with the continued growth in Alba's sales during the second quarter. The Alba team is effectively concentrating on fulfilling our corporate mission of profitably growing sales.
 "Though profit after taxes was down from last year, we're encouraged by the fact that it exceeded our expectations for the quarter." The company noted that profits after tax were down due to introductory spending incurred to launch their new lines of Leslie Fay hosiery and panties, the expense of repackaging several of their current lines, and overtime incurred to meet the significantly higher level of orders during the quarter.
 Schuster noted that gross profit margins continue to be strong at 25 percent of sales. He expressed optimism regarding continuing sales growth in the second half of the year as a result of additional growth in current products as well as the introduction of significant new products coming out of the R & D pipeline.
 Alba-Waldensian, Inc. manufactures and markets women intimate apparel, medical specialty products, and Byford men's socks and knitwear. The company employs approximately 900 people in Valdese, N.C.
 ALBA-WALDENSIAN INC.
 Three Month Periods Ended
 July 4, June 28,
 1993 1992
 Net Sales $11,869,929 $9,817,267
 Income before income taxes
 and cumulative effect of a
 change in accounting
 principle $ 168,603 $ 602,981
 Provision for income taxes 69,834 205,013
 Income before cumulative effect
 of a change in accounting
 principle $ 98,769 $ 397,968
 Cumulative effect on prior years
 of a change in accounting for
 income taxes --- ---
 Net income $ 98,769 $ 397,968
 Income per common share before
 cumulative effect of a change
 in accounting principle $.05 $.22
 Cumulative effect on prior years
 of a change in accounting for
 income taxes --- ---
 Net income per common share $.05 $.22
 Weighted average number of shares
 of common stock outstanding 1,823,278 1,824,043
 Six Month Periods Ended
 July 4, June 28,
 1993 1992
 Net Sales $23,868,415 $19,490,394
 Income before income taxes and
 cumulative effect of a change
 in accounting principle $ 625,453 $ 972,581
 Provision for income taxes 225,163 330,677
 Income before cumulative effect
 of a change in accounting
 principle $ 400,290 $ 641,904
 Cumulative effect on prior years
 of a change in accounting for
 income taxes --- 226,245
 Net income $ 400,290 $ 868,149
 Income per common share before
 cumulative effect of a
 change in accounting principle $.22 $.35
 Cumulative effect on prior years of
 a change in accounting for
 income taxes --- $.12
 Net income per common share $.22 $.47
 Weighted average number of shares
 of common stock outstanding 1,823,278 1,822,569
 -0- 8/17/93
 /CONTACT: Van C. Irwin of Alba-Waldensian, Inc., 704-879-6503/
 (AWS)


CO: Alba-Waldensian, Inc. ST: North Carolina IN: TEX SU: ERN

MM-CM -- CH007 -- 3632 08/17/93 14:37 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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