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ALBA-WALDENSIAN 3RD QUARTER PROFITS UP 76 PERCENT ON SALES INCREASE

 VALDESE, N.C., Nov. 11 /PRNewswire/ -- Alba-Waldensian, Inc. (AMEX: AWS), a manufacturer and marketer of women's hosiery and panties, men's socks and sweaters, and medical specialty products, announced today that sales in their fiscal third quarter ended Oct. 2, 1993, increased 30 percent over the prior year. 1993 sales were $13,679,326 compared to prior year sales of $10,547,873 for the third quarter.
 The company's third quarter profits after tax increased by 76 percent over 1992. 1993 profits were $568,055 or 31 cents per share compared to 1992 third quarter profits of $322,358 or 18 cents per share.
 Thomas F. Schuster, president and CEO, stated: "We are extremely pleased that in the third quarter we were able to continue to fulfill our primary corporate mission of profitably growing sales. Our gross profit margins in the quarter increased nearly 12 percent, sales continued to increase, and spending was reduced, resulting in our bottom line growth of 76 percent."
 Schuster noted that while sales increased in all divisions, they were particularly strong in the consumer products sector (panties, hosiery, Byford, Alba Direct) where sales grew 42 1/2 percent over the prior year quarter.
 Schuster noted that he is optimistic about the remainder of the year and pointed out that the company has recently developed technology for knitting a stretch bra and has already sold out all of its available 1993 production capacity for this garment.
 Alba-Waldensian, Inc. (American Stock Exchange) manufactures and markets women's hosiery and panties under such brand names as Leslie Fay(R), No nonsense(R), While-You-Wait(R) and Big Beautiful Woman. In the men's area, Alba markets Byford socks and sweaters. The company's medical specialty products group manufactures and markets its products throughout American and Europe. All together, the company employs approximately 950 people in Valdese, N.C.
 ALBA-WALDENSIAN, INC.
 Three Month Periods Ended
 Oct. 3, 1993 Sept. 27, 1992
 Net sales $13,679,326 $10,547,873
 Income before income taxes $ 887,590 $ 488,422
 Provision for income taxes 319,535 166,064
 Net income $ 568,055 $ 322,358
 Net income per common share $.31 $.18
 Weighted average number of shares
 of common stock outstanding 1,825,375 1,824,576
 Nine Month Periods Ended
 Oct. 3, 1993 Sept. 27, 1992
 Net sales $37,547,741 $30,038,267
 Income before income taxes and
 cumulative effect of a change
 in accounting principle $ 1,513,043 $ 1,461,003
 Provision for inome taxes 544,698 496,741
 Income before cumulative effect
 of a change in accounting
 principle 986,345 964,262
 Cumulative effect on prior years
 of a change in accounting for
 income taxes --- 226,245
 Net income $ 968,345 $ 1,190,507
 Income per common share before
 cumulative effect of a change
 in accounting principle $.53 $.53
 Cumulative effect on prior years
 of a change in accounting for
 income taxes --- .12
 Net income per comon share $.53 $.65
 Weighted average number of shares of
 common stock outstanding 1,823,718 1,824,576
 -0- 11/11/93
 /CONTACT: Van C. Irwin of Alba-Waldensian, 704-879-6503/
 (AWS)


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

MM-CM -- CH010 -- 3334 11/11/93 15:26 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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