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ROCKY MOUNT UNDERGARMENT CO., INC. REPORTS THIRD QUARTER RESULTS

 ROCKY MOUNT UNDERGARMENT CO., INC. REPORTS THIRD QUARTER RESULTS
 ROCKY MOUNT, N.C., Nov. 13 /PRNewswire/ -- Rocky Mount Undergarment Co., Inc. (NASDAQ: RMUC) today reported results from operations for the quarter and nine months ending Sept. 27, 1992.
 Net sales for the quarter were $6,523,000 a 33 percent increase over the $4,915,000 reported for the third quarter of 1991. The net loss for the quarter was $2,104,000 ($.73 per share), including a restructuring charge of $1,350,000. This compares to a loss of $73,000 ($.03 per share) for the same period last year.
 The restructuring charge reflects a consolidation of the Company's manufacturing facilities which saw the closing of two satellite plants and the realignment of the remaining facilities. The special charge also includes the writing off of certain non-performing assets, severance costs and inventory reserves for writedowns of low margin products which have been discontinued.
 Stephen Greenberg, the Company's newly appointed President indicated that these and other cost-reducing measures, combined with a higher margin product mix will have a beneficial effect on the company in 1993.
 Net sales for the nine-month period were $18,759,000, a 34 percent increase over the $14,021,000 reported for the first nine months 1991. The net loss for the nine months (including the $1,350,000 restructuring charge) was $2,675,000 ($.92 per share) compared to a net loss of $272,000 ($.09 per share) for the comparable period last year.
 Rocky Mount manufactures and markets intimate apparel for women and children.
 ROCKY MOUNT UNDERGARMENT CO., INC.
 COMPARATIVE TABLE
 THREE MONTHS ENDED NINE MONTHS ENDED
 Sept. 27, Sept 29, Sept. 27, Sept. 29,
 1992 1991 1992 1991
 NET SALES $6,523,000 $4,915,000 $18,759,000 $14,021,000
 Operating
 Costs, Net 7,277,000 4,988,000 20,084,000 14,273,000
 Restructuring Cost 1,350,000 - 1,350,000 -
 NET LOSS $(2,104,000) $(73,000) $(2,675,000) $(252,000)
 NET LOSS
 PER SHARE $(.73) $(.03) $(.92) $(.09)
 WEIGHTED AVERAGE
 SHARES OUTSTANDING 2,898,400 2,877,813 2,898,400 2,870,049
 September 27, December 31,
 1992 1991
 Current assets $7,239,000 $8,455,000
 Total assets 9,123,000 10,520,000
 Current liabilities 4,633,000 3,294,000
 Long-term debt 699,000 761,000
 Stockholders' equity 3,791,000 6,465,000
 -0- 11/13/92
 /CONTACT: (N.C.) Charles Kralick, Vice President-Finance, 919-446-6161, or (N.Y.) Seth Berkowitz, 212-481-1930, both of Rocky Mount Undergarment Co., Inc./
 (RMUC) CO: Rocky Mount Undergarment Co., Inc. ST: North Carolina IN: TEX SU: ERN


SB -- CH011 -- 0935 11/13/92 17:44 EST
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Publication:PR Newswire
Date:Nov 13, 1992
Words:450
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