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

DATE: THURSDAY, April 26, 1990                   TAG: 9004260202
SECTION: BUSINESS                    PAGE: C5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

FIELDCREST EARNINGS FALL 90 IN QUARTER

Fieldcrest Cannon, which operates a towel mill at Fieldale in Henry County, reported first-quarter earnings 90 percent below those during the same period last year. Net income was $.3 million or 3 cents per share compared with $3.1 million or 30 cents per share during the first quarter of 1989.

Sales in the quarter were $274.4 million, a drop of 7 percent from $296.3 million last year. Carpet and rug division sales increased by 3 percent; bed and bath division sales were down by 11 percent as customers sought to lower inventories, the company said.

Capital expenditures during the quarter were $44.8 million compared with $7.8 million last year. - Staff report

by CNB