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THOMASTON MILLS REPORTS EARNINGS

 THOMASTON, Ga., Jan. 26 /PRNewswire/ -- Thomaston Mills, Inc. (NASDAQ: TMSTA TMSTB), reported earnings of $3,823,951 or $.58 per share for the second fiscal quarter ended Jan. 2, 1993 compared to $2,960,394 or $.47 per share in the same quarter a year ago.
 For the six months ended Jan. 2, 1993, earnings were $7,426,863 or $1.14 per share on net sales of $135,935,839. For the comparable six month period a year ago, earnings were $4,038,172 or $.65 per share on net sales of $116,715,584.
 According to Neil Hightower, president and CEO, denim reflected the strongest portion of the business; however, the order backlog for all products increased.
 Hightower stated: "The company is continuing to reinvest aggressively in state-of-the-art manufacturing equipment with the objective to produce the highest quality products at the lowest possible cost.
 "A new slasher room is under construction at the Peerless sheeting mill. This new slasher room will enable the company to eventually expand sheeting production with new air jet weaving and spinning.
 "The new Lakeside comforter and accessory plant is under construction. This new plant will be approximately 250,000 square feet and will be equipped with the latest state-of-the-art manufacturing and material handling equipment."
 Hightower also said: "In looking ahead, the economy continues to improve, and the outlook for retail looks favorable. Thomaston Mills is in a fine position to benefit from this environment, and the prospects for the current fiscal year are very positive."
 STATEMENTS OF INCOME (UNAUDITED)
 3 mos. ended 1/2/93 12/28/91
 Net sales $ 65,404,934 $ 62,210,712
 Cost of sales 54,704,392 53,145,495
 Total 10,700,542 9,065,217
 Selling, admin. &
 gen. exps. 4,209,232 3,995,880
 Total 6,491,310 5,069,337
 Other income 136,635 61,310
 Total 6,627,945 5,130,647
 Interest expense 460,282 355,817
 Income before income
 taxes 6,167,663 4,774,830
 Provision for income
 taxes 2,343,712 1,814,436
 Net income $ 3,823,951 $ 2,960,394
 Avg. number shares 6,541,737 6,253,542
 Data per share:
 Net income $ 0.58 $ 0.47
 Dividends paid $ 0.060 $ 0.055
 6 mos. ended 1/2/93 12/28/91
 Net sales $135,935,839 $116,715,584
 Cost of sales 114,201,541 102,058,592
 Total 21,734,298 14,656,992
 Selling, admin. &
 gen. exps. 9,015,136 7,525,831
 Total 12,719,162 7,131,161
 Other income 263,453 141,367
 Total 12,982,615 7,272,528
 Interest expense 1,003,803 759,347
 Income before income
 taxes 11,978,812 6,513,181
 Provision for income
 taxes 4,551,949 2,475,009
 Net income $ 7,426,863 $ 4,038,172
 Avg. number shares 6,529,669 6,257,172
 Data per share:
 Net income $ 1.14 $ 0.65
 Dividends paid $ 0.12 $ 0.11
 -0- 1/26/93
 /CONTACT: Neil H. Hightower, president and CEO of Thomaston Mills, 706-647-7131/
 (TMSTA TMSTB)


CO: Thomaston Mills, Inc. ST: Georgia IN: TEX SU: ERN

RA-BR -- AT009 -- 9061 01/26/93 12:05 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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