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GOLDTEX, INC. ANNOUNCES RESULTS

 GOLDTEX, INC. ANNOUNCES RESULTS
 GOLDSBORO, N.C., Nov. 7 /PRNewswire/ -- Goldtex, Inc.


(NASDAQ: GLTX) today released its earnings for the quarter ending Oct. 27, 1991, which is the first quarter of the current fiscal year. For the quarter, the Company reported a net profit of $202,258 on sales of $6,626,610, compared to a net profit of $304,241, on sales of $6,747,721 in the same period in 1990. On a per share basis, the Company reported a net profit of $.09 in the 1991 period, compared to a net profit of $.13 in 1990.
 Will Hopper, President, stated, "The Company is pleased with the profit earned during the current recessionary period which our country is presently experiencing. While the sales volume for the 1991 and 1990 first quarter remained comparable, the level of profitability decreased to lower margins and operating efficiencies. Barring any worsening to the general economy we believe that the Company will continue to operate at a profitable level.
 Goldtex, Inc., headquartered in Goldsboro, North Carolina, is engaged in the printing, dyeing and finishing of fabrics for others on a commission basis.
 -0- 11/7/91
 /CONTACT: Wilbur O. Hopper, Goldtex, Inc., 919-736-7411/
 (GLTX) CO: Goldtex, Inc. ST: North Carolina IN: TEX SU: ERN DF -- CH002 -- 2023 11/07/91 08:00 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 7, 1991
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