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

DATE: TUESDAY, April 20, 1993                   TAG: 9304200077
SECTION: BUSINESS                    PAGE: B-4   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Noland Co., Newport News-based distributor of equipment to the building trades with operations in Roanoke, on Monday reported a first-quarter net loss of $976,000, or 26 cents per share, compared to net income of $205,000, or 6 cents per share, in the year-earlier period.

The company, citing unusually wet, wintry weather that disrupted the recovery and led to an unexpected sales slump, said sales totaled $88,303,000, 7.1 percent less than first-quarter 1992's $95,100,000.

Lower sales generated lower profits and operating expenses, including the costs of a somewhat larger work force and a mandated accounting change, rose 5 percent.

HCA

Hospital Corporation of America, Nashville parent of Lewis-Gale Hospital and Lewis-Gale Psychiatric Center in Salem, on Monday reported first-quarter earnings per share of 64 cents, up 28 percent from 50 cents in the 1992 quarter.

Net income was $114.5 million, compared to $76.9 million a year ago, and pretax income was $189.5 million, up from $130.9 million in 1992. Net revenues were $1.3 billion, nearly unchanged.

Apco, AEP

Appalachian Power Co.'s first-quarter net earnings fell 3.9 percent to $37.3 million while its parent, American Electric Power Co., earned $133.1 million, 2.1 percent more than a year earlier, the utilities said Monday. Richard Disbrow, AEP chairman, said retail sales of electricity increased because of colder weather.

Apco revenues were $393 million, up 3.8 percent. AEP revenues were $1.3 billion, up 1.9 percent.

For the year, Apco's earnings were $113.3 million, down 12.7 percent from the year earlier, and its operating revenues were $1.4 billion, a gain of 1 percent. AEP earnings for the year fell 2.4 percent to $471.1 million and revenues were $5.1 billion, slightly less than a year ago. Disbrow cited increased operating expenses and tax adjustments in 1991 as a result of settlements of prior tax audits.

Chesapeake Corp.

Chesapeake Corp., a Richmond-based forest products company with operations in Roanoke, on Monday reported a first-quarter net loss of $0.8 million, or 3 cents a share, down from $2.3 million, or 11 cents a share, in the 1992 quarter. Sales were $209.3 million, down from $210.1 million.

Earnings before interest, taxes and accounting changes were $7.2 million compared to $12.1 million in 1992.

Adolph Coors Co.

Adolph Coors Co., a Golden, Colo., brewer operating a bottling and distribution plant in Rockingham County, on Monday reported nounced higher first-quarter income and net sales. Income from continuing operations was $4.7 million, or 12 cents per share, up from a loss of $0.6 million, or 2 cents per share, in the 1992 quarter. Net sales were $296 million, up 3.5 percent from $285.8 million.

Earlier in April, Coors Brewing Co., the only direct subsidiary of Adolph Coors Co., reported first-quarter beer sales of 3,742,000 barrels, up 4.1 percent from 3,596,000 barrels in the 1992 period.