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PULASKI FURNITURE REPORTS RESULTS

 PULASKI FURNITURE REPORTS RESULTS
 PULASKI, Va., Dec. 6 /PRNewswire/ -- Pulaski Furniture Corporation


(NASDAQ: PLFC), Pulaski, Va., today reported operating results for the fiscal year and for the fourth quarter ended Nov. 3, 1991, and compared them with the 1990 results as follows:
 PULASKI FURNITURE CORPORATION
 (In thousands)
 Fourth Quarter Year
 11/3/91 10/28/90 11/3/91 10/28/90
 Net sales $44,000 $46,225 $120,576 $132,454
 Income before income taxes 415 3,292 2,635 7,874
 Net income 339 2,302 1,800 5,184
 Earnings per share $0.12 $.81 $.63 $1.81
 The decrease in sales and earnings in the 1991 quarter and the fiscal year ended Nov. 3, 1991, is due to the continued weakness in the household furniture industry and the economy. This weakness caused the corporation to experience bad debt losses of approximately 24 cents per share after taxes in fiscal 1991, as opposed to approximately 3 cents per share after taxes in fiscal 1990.
 The 1991 fourth quarter contained 17 weeks and the year ended Nov. 3, 1991, contained 53 weeks, whereas the 1990 fourth quarter contained 16 weeks and the year ended Oct. 28, 1990, contained 52 weeks.
 The board of directors at its meeting today authorized the purchase by the corporation of up to 200,000 shares of its common stock presently outstanding.
 The board of directors also declared a dividend of 13 cents per common share payable on Jan. 2, 1992, to stockholders of record on Dec. 17, 1991.
 -0- 12/6/91
 /CONTACT: Bernard C. Wampler, president of Pulaski Furniture, 703-980-7330/
 (PLFC) CO: Pulaski Furniture Corporation ST: Virginia IN: REA SU: ERN TS-CK -- NY025 -- 0077 12/06/91 11:43 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 6, 1991
Words:288
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