SHAW INDUSTRIES REPORTS RESULTS
SHAW INDUSTRIES REPORTS RESULTS DALTON, Ga., April 20 /PRNewswire/ -- Shaw Industries, Inc.
(NYSE: SHX) today reported unaudited results for the third quarter and for the nine months ended March 28, 1992.
Sales increased 18.3 percent to $403,948,000 from $341,479,000 for the same quarter last year. Net earnings increased to $8,891,000 from $255,000 last year. Earnings per share, on a primary and fully diluted basis, increased to 14 cents per share from zero cents per share and after giving effect to the 2-for-1 stock split issued on March 9, 1992. Sales for the nine months ended were $1,251,488,000, up 6.3 percent from $1,177,853,000 last year. Net earnings increased to $34,596,000 from $23,076,000 last year. Earnings per share, on a primary and fully diluted basis, increased to 56 cents per share from 40 cents and after giving effect to the 2-for-1 stock split issued on March 9, 1992. Robert E. Shaw, chief executive officer, said, "Business activity in the carpet industry has improved from last year's severely depressed levels. However, margins continue under competitive pressure but should show improvement as we move further into the spring and early summer season." Shaw Industries, Inc., with corporate offices in Dalton, manufactures and sells carpeting to retailers and distributors throughout the United States and exports to Canada and several overseas markets. SHAW INDUSTRIES, INC. Consolidated Statement of Income (Unaudited) Three months ended 3/28/92 3/30/91 Net sales $403,948,000 $341,479,000 Costs and expenses 389,491,000 341,064,000 Income before income taxes 14,457,000 415,000 Provision for income taxes 5,566,000 160,000 Net income 8,891,000 255,000 Earnings per common share: On a primary and fully diluted basis $.14 -- Weighted average shares: Primary 63,878,470 55,495,486 Fully diluted 64,008,517 55,599,632 Nine months ended 3/28/92 3/30/91 Net sales $1,251,488,000 $1,177,853,000 Costs and expenses 1,195,397,000 1,140,658,000 Income before income taxes 56,091,000 37,195,000 Provision for income taxes 21,495,000 14,169,000 Net income 34,596,000 23,026,000 Earnings per common share: On a primary and fully diluted basis $.56 $.40 Weighted average shares: Primary 61,452,119 57,734,010 Fully diluted 61,658,681 57,953,452 -0- 4/20/92 /CONTACT: Ben Laughter of Shaw Industries, 404-278-3812/ (SHX) CO: Shaw Industries Inc. ST: Georgia IN: TEX SU: ERN
SM-CK -- NY050 -- 0064 04/20/92 12:32 EDT
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|Date:||Apr 20, 1992|
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