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THOMASTON MILLS, INC. REPORTS SECOND QUARTER RESULTS OF OPERATIONS

 THOMASTON MILLS, INC. REPORTS SECOND QUARTER RESULTS OF OPERATIONS
 THOMASTON, Ga., Jan. 22 /PRNewswire/ -- Thomaston Mills, Inc. (NASDAQ: TMSTA, TMSTB) reported earnings of $2,960,394 for the second fiscal quarter ended Dec. 28.
 For the six months ended Dec. 28, earnings were $4,038,172 or $1.29 per share of common stock.
 Sales for the second quarter were up 41.4 percent when compared to the second quarter last year.
 Neil H. Hightower, president and chief executive officer, attributed the improved earnings to better capacity utilization combined with lower cotton prices and increased demand for the company's products.
 Hightower further stated that Thomaston Mills continues to produce high quality products at low costs, and that "the company is well positioned to have a very good year provided the economy continues to improve."
 Thomaston Mills, incorporated in 1899 and headquartered in Thomaston, Ga., is a medium-sized textile company manufacturing textile products for the apparel, home furnishings and industrial markets.
 THOMASTON MILLS, INC.
 Statement of Income (Unaudited)
 3 mos. ended 12/28/91 12/29/90
 Net sales $ 62,210,712 $ 43,972,703
 Cost of sales 53,145,495 40,452,980
 Total 9,065,217 3,519,723
 Selling, admin. &
 gen. exps. 3,995,880 3,423,721
 Total 5,069,337 96,002
 Other income 61,310 153,169
 Total 5,130,647 249,171
 Interest expense 355,817 481,614
 Income (loss) before
 income taxes 4,774,830 (232,443)
 Provision for income
 taxes 1,814,436 (88,328)
 Net income (loss) $ 2,960,394 $ (144,115)
 Net income (loss) per
 share of common
 stock $ 0.95 $ (0.05)
 Dividends per share of
 common stock $ 0.11 $ 0.11
 6 mos. ended 12/28/91 12/29/90
 Net sales $116,715,584 $ 87,656,937
 Cost of sales 102,058,592 81,183,786
 Total 14,656,992 6,473,151
 Selling, admin. &
 gen. exps. 7,525,831 6,706,066
 Total 7,131,161 (232,915)
 Other income 141,367 425,542
 Total 7,272,528 192,627
 Interest expense 759,347 938,513
 Income (loss) before
 income taxes 6,513,181 (745,886)
 Provision for income
 taxes 2,475,009 (283,436)
 Net income (loss) $ 4,038,172 $ (462,450)
 Net income (loss) per
 share of common
 stock $ 1.29 $ (0.15)
 Dividends per share of
 common stock $ 0.22 $ 0.22
 -0- 1/22/92
 /CONTACT: Neil H. Hightower, president and chief executive officer of Thomaston Mills, 404-647-7131/
 (TMSTA TMSTB) CO: Thomaston Mills, Inc. ST: Georgia IN: TEX SU: ERN


BR-BN -- AT004 -- 2266 01/22/92 11:49 EST
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Publication:PR Newswire
Date:Jan 22, 1992
Words:437
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