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ALBA-WALDENSIAN ANNOUNCES INCREASED EARNINGS FOR 2ND QUARTER

 ALBA-WALDENSIAN ANNOUNCES INCREASED EARNINGS FOR 2ND QUARTER
 VALDESE, N.C., Aug. 17 /PRNewswire/ -- ALBA-WALDENSIAN, INC. (AMEX: AWS), a diversified knitwear manufacturer, announced second quarter net earnings increased 13 percent over the same quarter in 1991, and increased 33 percent for the first six months.
 Second quarter earnings of $397,9678 on sales of $9,817,267 compared to prior year earnings of $351,259 on sales of $9,566,680 in the prior year quarter.
 Year to date earnings through June 30, 1992 increased 33.5 percent to $641,904 on sales of $19,490,394 compared to prior year earnings of $480,869 on sales of $19,735,772.
 "All of our business continue to gain strength in both sales and profitability as Alba continues its move away from commodity products to more unique, value-added products," said Thomas F. Schuster, President and CEO. "In particular, sales of hosiery are very strong, showing high double digit increases, as we introduce new products and add distribution - most recently Bloomingdale's. In addition, our No nonsense panty business is progressing very nicely. The result has been very significant increases in gross profit margins for the Division." Schuster noted that Alba's Health Products Division is continuing to turn in a very strong performance, with sales for the quarter up more than 12 percent. over last year.
 The company's Alba Direct Division had a record quarter with strong increases in both sales and gross profit margins. "The company continues to place major emphasis on new product development, and is very vigorously seeking licensing deals and acquisitions to take advantage of our momentum and very strong balance sheet. The company is successfully achieving its primary mission of profitably growing sales, and we remain optimistic about the year," said Schuster.
 ALBA-WALDENSIAN, INC. manufactures women's and men's hosiery, women's intimate apparel, and medical specialty products. The Company presently employs approximately 800 employees in four locations in Valdese, N.C.
 Three Months Ended
 June 30
 1992 1991
 Net Sales $9,817,267 $9,566,680
 Income Before Taxes $602,981 $532,211
 Provision For Income Taxes 205,013 180,952
 Net Income $397,968 $351,259
 Net Income per Common Share $.22 $.19
 Average Number of Shares Outstanding 1,824,043 1,825,079
 Six Months Ended
 June 30
 1992 1991
 Net Sales $19,490,394 $19,735,772
 Income Before Taxes $972,581 $728,589
 Provision For Income Taxes 330,677 247.720
 Net Income $641,904 $480,869
 Net Income per Common Share $.35 $.26
 Average Number of Shares Outstanding 1,822,569 1,824,349
 -0- 8/17/92
 /CONTACT: Van C. Irwin, Alba-Waldensian, 704-879-6500/
 (AWS) CO: ALBA-WALDENSIAN, INC. ST: North Carolina IN: TEX REA SU: ERN


DF -- CH002 -- 0379 08/17/92 09:18 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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