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

DATE: THURSDAY, February 4, 1993                   TAG: 9302040050
SECTION: BUSINESS                    PAGE: B7   EDITION: METRO 
SOURCE: 
DATELINE: HIGH POINT, N.C.                                 LENGTH: Short

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LADD REPORTS 16 PERCENT HIGHER SALES

LADD Furniture Inc. the High Point, N.C., company that owns American of

Martinsville Inc. and Fournier Furniture Corp., which has operations in Western Virginia - said Wednesday its fiscal 1992 net sales rose 16 percent, to $496.7 million, from $429.1 million in 1991.

For the fiscal year ended Jan. 2, net earnings totaled $5.2 million, or 24 cents per share, compared to a net loss of $12.7 million, or 67 cents per share, in the prior year.

LADD does not reveal information specific to any of its 12 divisions, but Robert Maricich, president of American of Martinsville, said that company had a "mixed bag" year.

American makes contract furniture for institutional customers. Maricich said sales were good in the health-care and government areas, but the hotel and motel industry "is still a very depressed business."

He said American's plants were on short workweeks all year, but will run full time the first quarter of 1993.

"It looks like the second quarter could be a little bit leaner," he said.

LADD Chairman and Chief Executive Officer Richard R. Allen said the company's operating margins, while higher than those of 1991, are still below goals. - SANDRA BROWN KELLY

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