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GUILFORD MILLS REPORTS THIRD QUARTER EARNINGS

 GREENSBORO, N.C., April 20 /PRNewswire/ -- Guilford Mills, Inc. (NYSE: GFD) today announced operating results for 00,000 reported for the same q uarter of the prior year. Net income of $6,143,000 or 45 cents per primary share increased 29 percent over the $4,762,000 or 35 cents per primary share for the comparable period of the prior year and represents a record level for the third fiscal quarter.
 Sales for the first nine months of the fiscal year of $462,460,000 improved 6.8 percent over the comparable prior year amount. Net income for the first nine months of the fiscal year of $18,167,000 or $1.33 per primary share represents an increase of 31.2 percent over the $13,851,000 or $1.03 per primary share for the first nine months of the prior year.
 Charles A. Hayes, chairman and chief executive officer stated that, "Our diversified product base has enabled us to maintain our sales growth over the comparable quarter of last year while significantly improving earnings. Our automotive business unit continued to register strong sales improvement over last year while our apparel unit improved circular knit sales, but was affected by delayed retail orders for certain warp knit fabrics. Our product mix and continued improvement in operating performance enabled us to improve gross margins to 17.9 percent from last year's 16.4 percent, while selling, general and administrative expense rose to 10.9 percent of sales from 10.1 percent in last year's third quarter."
 The board of directors declared a dividend of 15 cents per share payable on May 12, 1993 to stockholders of record on April 30, 1993.
 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 serving diversified markets for apparel, home furnishings, automotive and furniture upholstery.
 GUILFORD MILLS, INC.
 Summary of Results
 Quarter ended 3/28/93 3/29/92
 Sales $153,250,000 $149,305,000
 Net income 6,143,000 4,762,000
 Net income per share:
 Primary $.45 $.35
 Fully diluted .42 .34
 Equivalent shares outstanding:
 Primary 13,724,000 13,508,000
 Fully diluted 15,981,000 15,786,000
 Nine months ended 3/28/93 3/29/92
 Sales $462,460,000 $433,089,000
 Net income 18,167,000 13,851,000
 Net income per share:
 Primary $1.33 $1.03
 Fully diluted 1.25 .99
 Equivalent shares outstanding:
 Primary 13,642,000 13,442,000
 Fully diluted 15,936,000 15,799,000
 -0- 4/20/93
 /CONTACT: Terrence E. Geremski, chief financial officer of Guilford Mills, Inc., 919-316-4136, or Rod O'Connor of Cameron Associates, 212-644-9560, for Guilford Mills, Inc./
 (GFD)


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

SM-TS -- NY050 -- 7970 04/20/93 11:00 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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