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

DATE: WEDNESDAY, May 2, 1990                   TAG: 9005020106
SECTION: BUSINESS                    PAGE: A7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

RETIREMENT CREATES LOSS FOR MOD-U-KRAF

Mod-U-Kraf Homes Inc. in Rocky Mount reported a first-quarter loss of $161,825 as the result of benefit payments to Robert K. Fitts, one of the founders, who has taken early retirement. His successor is Dale H. Powell, president and chairman of the maker of modular homes, apartments and commercial buildings.

Aside from Fitts' retirement benefit of $577,382, Mod-U-Kraf said its net income for the quarter came to $54,320, slightly less than the $59,350 of a year ago. Sales declined slightly to $1.4 million from $1.5 million last year. - Staff report

by CNB