Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, July 23, 1993 TAG: 9307230071
SECTION: BUSINESS PAGE: A-9 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Long
LADD Furniture Inc., High Point, N.C.-based parent of American of Martinsville, said Thursday that second-quarter net earnings increased 34 percent from the 1992 quarter, to $2.3 million, or 10 cents per share, from $1.6 million, or 8 cents per share. Net sales rose 7 percent, to $133.8 million from $125.1 million.
For the first six months, net sales rose 11 percent, to $270 million from $243.1 million, while net earnings increased 69 percent, to $4.1 million, or 18 cents per share, from $2.4 million, or 12 cents per share, in 1992's first half.
Premier Bankshares
Premier Bankshares Corp. of Tazewell has posted first-half net income of $4.6 million, or $1.05 a share, up 18 percent from last year's $3.9 million, or 89 cents a share. Assets grew 18 percent, from $434 million in 1992 to $513 million.
Intermet Corp.
Intermet Corp. of Atlanta, which operates Lynchburg Foundry in Lynchburg and Radford, reported second-quarter earnings of $1.2 million, or 5 cents a share, compared with $2.1 million, or 10 cents a share, for the 1992 period.
For the six months, income was $1.9 million, or 8 cents a share, vs. last year's net loss of $26.2 million, or $1.24 a share.
Uni-Marts
Uni-Marts Inc., State College, Pa.-based convenience-stores operator with units in the Roanoke Valley, reported $602,826 in net income for its third quarter, compared to $58,947 a year earlier. Earnings per share rose to 9 cents from 1 cent. Revenues fell, to $87.3 million from $88 million in the 1992 quarter.
For nine months, net earnings more than doubled, to $1.9 million from $952,773 in the year-earlier period. Per-share earning rose to 28 cents from 14 cents. Revenues were $237.4 million, down from $251.6 million.
BellSouth
BellSouth Corp., Atlanta-based parent of BellSouth Communication Systems of Roanoke, on Thursday reported second-quarter net income of $377.7 million, or 76 cents per share, compared with $458.5 million, or 94 cents per share, in the 1992 quarter. Excluding the effect of refinancings, earnings per share were 87 cents, the same as the 1992 quarter. Revenues were $3.91 billion, up 2.4 percent from $3.82 billion. Operating expenses increased 3.7 percent.
Tultex Corp.
Tultex Corp., Martinsville fleece-wear maker with plants in Roanoke, Bland and Smyth counties, on Thursday reported its sixth consecutive quarter of improved earnings. Sales were up 13 percent at $100.2 million, compared to $88.6 million for the 1992 quarter. Net income was $435,000, or 1 cent per share, vs. a loss of $1.4 million, or 6 cents per share.
For the first six months, sales were $191.3 million, up 20 percent from $159.4 million in the 1992 period. The net loss for the half was $1 million, or 5 cents per share, compared to a loss of $4.5 million, or 17 cents per share.
Kollmorgen
Kollmorgen Corp., a Simsbury, Conn. manufacturer of motors and electronic drive systems with operations in Radford, on Thursday reported second-quarter net income of $1 million, or 4 cents per share, up from $341,000, or a loss of 2 cents per share, a year earlier. Net sales fell to $49.2 million from year-earlier $49.9 million.
For the first six months, net income was $575,000, or a loss of 6 cents per share, on sales of $93.7 million. Year-earlier net income was $34,000, or a loss of 11 cents per share, on sales of $98.6 million. In all periods, earnings per share were calculated after payment of preferred dividends.
Blockbuster
Blockbuster Entertainment Corp., Fort Lauderdale, Fla.-based chain of video rental stores with outlets in the Roanoke Valley, on Thursday reported record second-quarter revenue and net income. Net income increased 59 percent to $47.7 million, or 23 cents per share, from $29.97 million, or 17 cents per share, for the 1992 period.
Net income for the first six months rose 56 percent to $86.9 million, or 43 cents per share, compared to $55.6 million, or 31 cents per share, for the 1992 period.
Company revenue for the quarter was $456.1 million, up 72 percent from $264.6 million. For the six months, it was $847.2 million, up 63 percent from $518.6 million.
Systemwide revenue - all revenue generated by the company and its franchise-owned video stores - for the quarter was $654.1 million, up 46 percent from $448.1 million. For the first six months, systemwide revenue increased 41 percent, to $1.3 billion from $894.5 million.
Delta Air Lines
Delta Air Lines Inc. of Atlanta, part owner of Atlantic Southeast Airlines and Comair commuter carriers serving Roanoke Regional Airport, on Thursday reported unaudited net income of $7.15 million, or a loss of 41 cents per share, for the quarter, up sharply from a net loss of $180.2 million, or $3.72 per share, in the 1992 quarter. Operating income was $57.3 million, up from a loss of $265.4 million.
For the year, Delta reported an unaudited net loss of $1 billion, or $22.32 per share, and an operating loss of $575.4 million.
Excluding the effect of all accounting changes, the net loss for the year was $369.7 million, or $9.41 per share, and the operating loss was $493.4 million. The 1992 net loss was $506.3 million, or $10.60 per share, and the operating loss was $674.9 million.
Operating revenues in the quarter totaled $3.131 billion, up 11 percent from the 1992 quarter. Operating expenses totaled $3.074 billion, down 0.6 percent.
For the year, operating revenues were $11.997 billion, up 11 percent from 1992. Operating expenses were $12.572 billion, up 9 percent.
by CNB