Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, April 20, 1994                   TAG: 9404200109
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Signet Banking Corp., Richmond parent of Signet Bank, on Tuesday reported record first-quarter earnings of $53.1 million, or 93 cents a share, compared with $38.3 million, or 68 cents a share, for the 1993 period.

Chairman Robert M. Freeman cited the company's bank card programs, its sophisticated target marketing, and credit and interest rate risk management.

Nonperforming assets declined $53.8 million from the first quarter of 1993 and $28.1 million since December. Interest income dropped 2 percent to $127.2 million.

Loans were down 5.2 percent, from $6.3 billion to $5.9 billion, while deposits rose 4.6 percent, from $7.5 million to $7.9 million. Assets on March 31 stood at $11.5 billion.

Ground Round

Ground Round Restaurants Inc., Boston-based chain with an outlet in Roanoke, on Tuesday reported second-quarter earnings of $1.6 million, or 14 cents per share, on revenue of $59.9 million. This compares to $1.2 million, or 11 cents per share, on revenue of $56.4 million for the same period last year. For the six months ended April 3, earnings were $3.1 million, or 28 cents per share, on revenue of $122.1 million, compared with $2.6 million, or 24 cents per share, on revenue of $118.6 million.

The Kroger Co.

The Kroger Co., Cincinnati-based supermarket chain operating a mid-Atlantic marketing area office and warehouse and stores in the Roanoke Valley, said 1994 first-quarter earnings before an extraordinary item rose to $55.7 million, or 46 cents per share, from $29.5 million, or 29 cents per share, in the 1993 quarter.

After $8.3 million from the early retirement of debt, net earnings were $47.4 million, or 40 cents per share, compared with a loss of $138.8 million in the 1993 quarter.

Operating cash flow - earnings before interest expense, taxes, depreciation, and LIFO - increased 8.9 percent, to $237.5 million from $218.1 million. Sales rose 3 percent, to $5.33 billion from $5.17 billion. Same-store sales improved 2.3 percent.