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GOLDTEX ANNOUNCES EARNINGS

 GOLDSBORO, N.C., Feb. 5 /PRNewswire/ -- Goldtex, Inc. (NASDAQ-NMS: GLTX) today released its earnings for the quarter ending Jan. 24, 1993, which is the second quarter of the current fiscal year. For the quarter, the Company reported a net income of $628,619 on sales of $8,327,494, compared to a net income of $210,611 on sales of $5,601,425 in the same period in 1992. On a per share basis, the Company reported a net income of $.27 in the 1993 period, compared to a net income of $.09 in 1992.
 For the six months ending Jan. 24, 1993, the Company reported a net income of $700,952 on sales of $14,513,514, compared to a net income of $412,869 on sales of $12,228,035 for the same period in 1992. On a per share basis, the Company reported a net income of $.30 in the 1993 period, compared to a net income of $.18 in 1992.
 Will Hopper, President, stated: "The increase in sales volume for the Company during the first six months of the current fiscal year is attributable primarily to sales being generated by the Company's recently formed fabric sales division, GFI, as well as an increase in sales in its' commission dyeing and finishing operations. During the same period, profits improved primarily as a result of the increase in sales volume, as well as substantial reductions in the Company's overhead, which were made in the Fall of 1992."
 Goldtex, Inc., headquartered in Goldsboro, N.C., is engaged in printing, dyeing and finishing of fabrics.
 -0- 2/5/93
 /CONTACT: Wilbur O. Hopper of Goldtex, 919-736-7411/
 (GLTX)


CO: Goldtex, Inc. ST: North Carolina IN: TEX SU: ERN

CM -- CH001 -- 3396 02/05/93 09:08 EST
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Publication:PR Newswire
Date:Feb 5, 1993
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