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TULTEX INCREASES SALES AND REDUCES LOSS IN SECOND QUARTER -- ORDER BACKLOG UP 36 PERCENT; EARNINGS GAIN EXPECTED FOR FULL YEAR

 TULTEX INCREASES SALES AND REDUCES LOSS IN SECOND QUARTER --
 ORDER BACKLOG UP 36 PERCENT; EARNINGS GAIN EXPECTED FOR FULL YEAR
 MARTINSVILLE, Va., July 16 /PRNewswire/ -- Tultex Corporation (NYSE: TTX), one of the nation's largest manufacturers and marketers of activewear and licensed sports apparel, today reported continuing improvement in revenues and a reduced loss during the second quarter.
 Sales for the second quarter ended June 27, 1992 were $88,603,000, compared with $61,238,000 for the second quarter of 1991. The net loss for the quarter was $1,414,000, or 6 cents per share, versus a loss of $3,150,000, or 11 cents per share, for the same period last year.
 For the first six months of 1992, sales amounted to $159,365,000, compared with $99,924,000 for the first half of 1991. The net loss was $4,472,000, or 17 cents per share, compared with a loss of $7,066,000, or 25 cents per share, for the first half of 1991, before the cumulative effect of a change in accounting principle. Earnings for 1991 and 1992 have been restated to include Universal Industries, Inc., a professional sports hatwear licensee acquired by Tultex in June 1992 through an exchange of stock treated as a pooling of interests. The 1992 financial results include the performance of Logo 7, Inc., acquired in January of this year.
 Tultex Chairman John Franck said he sees 1992 as a year of significant growth for the company. "We continue to increase sales and expect to increase our full-year earnings," he said. "Our order backlog is up 36 percent over last year at this time, and we are continuing our penetration into the rapidly growing sports licensing and branded sportswear apparel market.
 "The licensed sports apparel business, including athletic caps, continues to grow at an annual rate in excess of 25 percent per year. Just as Logo 7 was a perfect match for our company's product line, licensed caps are an important addition to Logo 7's apparel lines and fit well with distribution channels already established. Both Logo 7 and Universal are recording improved sales over 1991."
 According to Franck, Tultex continues to be focused on the customer and the ultimate consumer. In July Tultex launched its new "Tulavision" campaign, which uses television, print advertising and in-store displays to promote the Tultex product line. The company is also working with customers to provide computer-to-computer links that will enable Tultex to process orders and replenish stock more quickly.
 "Tultex still remains a company affected by seasonality," Franck said, "Logo 7's shipments are heaviest in the second half, as are other Tultex products. The acquisition of Universal and our continued strong growth in T-shirts should have a positive impact on the seasonality of our business, but we still anticipate all of our expected improvement in earnings to materialize in the third and fourth quarters."
 Tultex, a vertically integrated manufacturer and marketer of activewear and licensed sports apparel, sells many of its products under the Tultex, Discus Athletic, and Logo 7 brand names. The company operates manufacturing plants in Virginia, North Carolina, Indiana, Massachusetts and Jamaica.
 TULTEX CORPORATION
 Consolidated Statement of Income
 (000's omitted except for per share data)
 Periods Three Months Six Months
 Ended 6/27/92 6/29/91 6/27/92 6/29/91
 Net sales & other income $88,603 $61,238 $159,365 $99,924
 Income (loss) before income
 taxes and cumulative effect
 of a change in accounting
 principle (2,816) (4,845) (7,665) (10,935)
 Income taxes (1,402) (1,695) (3,193) (3,869)
 Income (loss) before
 cumulative effect of a
 change in accounting
 principle (1,414) (3,150) (4,472) (7,066)
 Cumulative effect of a
 change in accounting
 principle -- -- -- 2,848
 Net income (loss) $(1,414) $(3,150) $ (4,472) $(4,218)
 Earnings per common share:
 Income (loss) before cumulative
 effect of a change in
 accounting principle $(.06) $(.11) $(.17) $(.25)
 Net income (loss) $(.06) $(.11) $(.17) $(.15)
 Weighted average common
 shares outstanding 28,871 28,862 28,868 28,861
 -0- 7/16/92
 /CONTACT: Don P. Shook, vice president-finance and administration of Tultex, 703-632-2961, ext. 2304/
 (TTX) CO: Tultex Corporation ST: Virginia IN: TEX SU: ERN


GK-KW -- NY040 -- 9663 07/16/92 11:32 EDT
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Date:Jul 16, 1992
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