THOMASTON MILLS REPORTS ANNUAL RESULTS
THOMASTON MILLS REPORTS ANNUAL RESULTS THOMASTON, Ga., Aug. 18 /PRNewswire/ -- Thomaston Mills, Inc.
(NASDAQ: TMSTA TMSTB) reported sales for fiscal year ended June 27 were up 27.7 percent to a record $257,441,624 and net income was $13,895,083 or $2.17 per share.
In fiscal year 1991, sales were $201,538,384 and net income was $8,603. According to Neil Hightower, president and CEO, all divisions of the company improved in fiscal year 1992 with Apparel and Consumer Products recording the most dramatic gains. Hightower also reported that the company's performance was particularly strong in the fourth fiscal quarter. Sales for the fourth quarter were $73,709,970, and net earnings were $5,925,933 or $.91 per share. Hightower stated, "The year just ended was the company's 93rd and was another year of records." Sales per employee exceeded $105,000, one of the highest in the industry, and the company opened 145,062 bales of cotton or 1.5 percent of all cotton consumed in the United States. Thomaston Mills recently announced the planned construction of a new comforter and bedding accessory manufacturing facility to be located in Thomaston, Ga. This plant is scheduled to be in operation by December 1993. The new plant will be named the Lakeside Plant and will be approximately 250,000 square feet in size. -0- 8/18/92 /CONTACT: Neil H. Hightower, president and CEO of Thomaston Mills, 706-647-7131/ (TMST) CO: Thomaston Mills, Inc. ST: Georgia IN: TEX SU: ERN
BN-EA -- AT012 -- 1099 08/18/92 16:49 EDT
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|Date:||Aug 18, 1992|
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