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

DATE: SATURDAY, October 23, 1993                   TAG: 9310250331
SECTION: BUSINESS                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

LADD Furniture Inc., the High Point, N.C.-based parent of American of Martinsville, reported net sales for the third quarter ended Oct. 2 increased to $127.3 million from $124.6 million in 1992.

Net earnings for this year's third quarter declined to $431,000, or 2 cents per share, from $777,000, or 3 cents per share, a year earlier.

Flowers Industries Inc., a Thomasville, Ga. baker with retail and distribution facilities in Roanoke, reported fiscal 1994 first quarter sales were $217 million, compared to $211 million reported for the first quarter of 1993.

Income was $4.6 million, down from the $6.4 million reported last year. Income per share was 13 cents, down from 1993's 18 cents.

Piedmont BankGroup

Citing several legal problems, Piedmont BankGroup Inc., of Martinsville, reported third-quarter earnings of $648,000, or 18 cents a share. That compares with earnings of $2 million, or 56 cents a share, for the same period in 1992.

Earnings were hurt by a $2.3 million pre-tax ($1.5 million after tax) reserve "established for potential future losses from a trust department defalcation, potential bond loss and a pending legal action."

Earnings for the first nine months were $4.4 million or $1.19 a share compared to last year's $5.4 million or $1.47 a share.

The bank previously announced losses in accounts managed by a former trust officer.

The legal action, the bank said, arises from a commercial lending relationship with operators of a business near Lynchburg.

In addition, the trust deparment owns industrial development bonds issued to finance a development now in default.

Intermet

Intermet Corp., Atlanta owner of Lynchburg Foundry Co. in Radford, reported a third quarter loss of $21.3 million, or 87 cents per share, compared to 1992's third quarter loss of $700,000 million, or 3 cents per share.

Third quarter sales were $93 million compared to $101 million in the third quarter of 1992.

The Coastal Corp.

The Coastal Corp., Houston parent of ANR Coal Co. and Coastal Coal Sales Co. of Roanoke, reported a third-quarter loss of $11.4 million, or 15 cents per share. For 1992, third quarter earnings were $21.7 million, or 21 cents per share.

For the quarter, operating profit was $123.0 million, compared with $147.5 million in 1992.