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MOHAWK INDUSTRIES ANNOUNCES RECORD SALES AND OPERATING RESULTS

 MOHAWK INDUSTRIES ANNOUNCES RECORD SALES AND OPERATING RESULTS
 ATLANTA, July 21 /PRNewswire/ -- Mohawk Industries, Inc. (NASDAQ: MOHK) today announced that it achieved all time record highs in both net earnings from operations and net sales for the second quarter ended June 27.
 Before a one-time extraordinary charge of $3,473,000 related to the company's initial public offering, Mohawk posted net earnings from continuing operations of $3,146,000 or $.30 per common share, up 99 percent from the 1991 level of $1,583,000 or $.19 per common share. Net sales for the quarter of $78.0 million was the highest of any quarter in the history of the company and was 8.9 percent ahead of last year's $71.6 million in the comparable quarter.
 For the six months year to date, net earnings from continuing operations before the extraordinary charge of $3,473,000 were a record $3,179,000 or $.34 per common share, which compares to $923,000 or $.08 per common share a year ago, an increase of 244 percent. Year-to-date sales of $142.0 million were 10.7 percent higher than net sales of $128.3 million recorded in the same period last year.
 Mohawk became a publicly traded company through an initial public offering in April 1992. Had the company been public from the beginning of the year, net earnings from continuing operations on a pro forma basis for the six month period (giving effect to application of the proceeds from the offering to reduce debt and preferred stock as of Jan. 1, 1992, offset by anticipated costs associated with being a public company) would have been $3,937,000 or $.38 per share based on 10,455,000 shares outstanding on a fully diluted basis.
 In commenting on Mohawk's performance, David L. Kolb, chairman and CEO, stated: "I am very pleased with the second-quarter results as sales, operating income and net earnings were all somewhat ahead of expectations. Looking forward to the rest of 1992, I believe that Mohawk is well-positioned to continue gaining market share and take advantage of a slowly recovering economy."
 Mohawk Industries, Inc. is a leading producer of both woven and tufted broadloom carpeting for residential and commercial applications. It is among the 10 largest U.S. manufacturers and is fully integrated from yarn preparation through finished goods. The company markets over 180 styles of carpets, positioned in the medium to high price range under its two premium brand names, "Mohawk" and "Alexander Smith."
 MOHAWK INDUSTRIES, INC.
 Second Quarter and First Half Results
 (Unaudited and amounts in thousands, except earnings per share)
 Second quarter ending 6/27/92 6/29/91
 Statement of Earnings Data:
 Net sales $78,027 $71,618
 Costs and expenses 72,746 68,834
 Earnings before income taxes 5,281 2,784
 Net earnings 3,146 1,583
 Preferred dividend 2 170
 Net earnings available to common stock
 before extraordinary charge 3,144 1,413
 Earnings per share $ 0.30 $ 0.19
 Extraordinary charge 3,473 ---
 Net earnings (loss) available
 to common stock (329) 1,413
 Earnings (loss) per share of common stock (0.03) 0.19
 Wtd. average common shares outstanding 10,353 7,538
 First half ending 6/27/92 6/29/91
 Statement of Earnings Data:
 Net sales $142,005 $128,321
 Costs and expenses 136,666 126,785
 Earnings before income taxes 5,339 1,536
 Net earnings 3,179 923
 Preferred dividend 132 320
 Net earnings available to common stock
 before extraordinary charge 3,047 603
 Earnings per share $ 0.34 $ 0.08
 Extraordinary charge 3,473 ---
 Net earnings (loss) available
 to common stock (426) 603
 Earnings (loss) per share of common stock (0.05) 0.08
 Wtd. average common shares outstanding 8,877 7,538
 6/27/92 12/31/91
 BALANCE SHEET:
 Total assets $124,009 $116,107
 Liabilities 66,201 97,034
 Preferred stock --- 3,157
 Stockholders' equity 57,808 15,916
 Total liabilities and stockholders'
 equity $124,009 $116,107
 -0- 7/21/92
 /CONTACT: John D. Swift, vice president-Finance of Mohawk Industries, 404-951-6000/
 (MOHK) CO: Mohawk Industries, Inc. ST: Georgia IN: SU: ERN


EA-BR -- AT004 -- 1101 07/21/92 08:34 EDT
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Date:Jul 21, 1992
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