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GUILFORD MILLS REPORTS THIRD QUARTER AND NINE MONTH RESULTS

 GUILFORD MILLS REPORTS THIRD QUARTER AND NINE MONTH RESULTS
 GREENSBORO, N.C., April 23 /PRNewswire/ -- Guilford Mills, Inc. (NYSE: GFD) announced operating results for the third quarter and nine months for fiscal 1992.
 Sales for the third quarter ended March 29, 1992, amounted to $149,305,000, up from $126,832,000 for the same period of the prior year.
 Net income was $4,762,000 or $.35 per share for the current quarter versus $1,963,000 or $.15 per share for the comparable period of the prior year.
 For the nine months, sales were $433,089,000 compared with a year earlier of $371,383,000.
 Net income was $13,851,000 or $1.03 per share for the nine months versus $7,243,000 or $.54 per share for the comparable period before an extraordinary item increased the prior period's earnings to $.71 per share.
 All per share amounts have been restated to reflect a three-for-two split of the company's common stock effected in the form of a 50 percent stock dividend paid Jan. 17, 1992.
 The company's board of directors has declared a dividend of $.15 per share payable May 20, 1992, to stockholders of record on May 8, 1992.
 Guilford Mills is the world's largest producer of warp knit fabrics and a leader in technological advances in textiles, including microdenier warp knits and wide width circular knits of cotton and cotton/lycra blends. On Nov. 13, 1991, the company announced its initial move into woven velour fabrics to expand its automotive business.
 GUILFORD MILLS, INC. AND SUBSIDIARIES
 Summary of Results
 13 weeks ended 3/29/92 3/31/91
 Sales $149,305,000 $126,832,000
 Net income 4,762,000 1,963,000
 Net income per share:
 Primary $.35 $.15
 Fully diluted .34 .15
 Equivalent shares outstanding 13,508,000 13,296,000
 39 weeks ended
 Sales $433,089,000 $371,383,000
 Income (before extraordinary item) 13,851,000 7,243,000
 Extraordinary item (B) -- 2,360,000
 Net income 13,851,000 9,603,000
 Primary income per share:
 Before extraordinary item $1.03 $.54
 Net 1.03 .71
 Fully diluted income per share:
 Before extraordinary item .99 .53
 Net .99 .70
 Equivalent shares outstanding 13,442,000 13,407,000
 (A) -- All per share amounts restated to reflect 50 percent stock dividend paid Jan. 17, 1992.
 (B) -- Discount on the acquisition of convertible subordinated debentures (net of related income taxes.)
 -0- 4/23/92
 /CONTACT: Donald Park, chief financial officer of Guilford Mills, 919-316-4462, or Susan Sherman of Cameron Associates, 212-644-9560, for Guilford Mills/
 (GFD) CO: Guilford Mills Inc. ST: North Carolina IN: TEX SU: ERN


SM-KD -- NY084 -- 6411 04/23/92 12:39 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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