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SALEM CARPET ANNOUNCES SALES AND PROFITS FOR 1991

 SALEM CARPET ANNOUNCES SALES AND PROFITS FOR 1991
 WINSTON-SALEM, N.C., Jan. 14 /PRNewswire/ -- Salem Carpet Mills,


Inc. (NASDAQ-NMS: SLCR) has reported unaudited revenues for the fourth quarter ended Dec. 28, 1991 of $98.4 million compared to $102.9 million for the same period a year ago. Total revenues for 1991 were $396.0 million, compared with $442.0 million a year earlier.
 Unaudited net income for the fourth quarter of 1991 was $117 thousand or $.02 per share, compared to net income of $190 thousand or $.03 per share in the fourth quarter of 1990. For the year 1991, total net loss was $4.8 million or $.59 per share, compared with net income of $2.7 million or $.34 per share reported for 1990. The Company's book value is $7.74 per share.
 W. Douglas Foster, Chief Executive Officer, stated that for 1991 all segments of the carpet industry went through the most difficult times in sales and profits in recent history. Low retail demand and severe price pressure continued to plague the industry all year which resulted in depressed margins. The Company made progress during the year by focusing on cost cutting in all operations. Salem's financial condition remains strong with every effort being made toward better utilization of production capacities and providing the best possible service and quality to the marketplace.
 Salem designs, manufactures and markets broadloom tufted carpet in a wide range of styles, colors and prices for the residential and commercial markets nationwide. The Company's manufacturing operations are vertically integrated from fiber and yarn processing through finished product. It has nine manufacturing plants in Georgia, South Carolina and Tennessee, distribution centers nationally and corporate headquarters in Winston-Salem, N.C.
 SALEM CARPET MILLS
 FINANCIAL HIGHLIGHTS
 (Unaudited)
 (In Thousands Except Share Data)
 Fourth Quarter Ended Year Ended
 Dec. 28 Dec. 29 Dec. 28 Dec. 29
 1991 1990 1991 1990
 Net Sales and
 Other Income $98,354 $102,930 $396,017 $442,010
 Income (Loss) Before
 Taxes 317 346 (7,606) 4,542
 Provision (Benefit)
 For Taxes 200 156 (2,791) 1,800
 Net Income (Loss) 117 190 (4,815) 2,742
 Earnings Per Common
 Share $ .02 $ .03 $ (.59) $ .34
 Weighted Average
 Shares Outstanding 8,143,701 8,143,701 8,143,701 8,142,429
 -0- 1/14/92
 /CONTACT: Thomas F. Lanier, Executive Vice President and CFO, Salem Carpet Mills, Inc., 919-727-1200/
 (SLCR) CO: Salem Carpet Mills, Inc. ST: North Carolina IN: TEX SU: ERN


CM -- CH001 -- 9418 01/14/92 09:24 EST
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Publication:PR Newswire
Date:Jan 14, 1992
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