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

DATE: THURSDAY, February 3, 1994                   TAG: 9402030145
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Fieldcrest Cannon Inc., Eden, N.C.-based textile maker operating a towel mill in Henry County, on Wednesday reported fourth-quarter net sales up 4.5 percent, to $282.9 million from $270.9 million in the 1992 quarter. Income from continuing operations was $8.7 million, or 77 cents per share, up from $5.8 million, or 48 cents.

Net sales for the year were $1,000.1 million, up 2 percent from $981.8 million in 1992. Income from continuing operations before nonrecurring items was $22.5 million, or $1.88 per share, compared to $16.9 million, or $1.50 per share, in 1992. After a pretax restructuring charge of $10 million and a $1.4 million tax adjustment for the increase in the federal income tax rate, 1993 income was $15 million, or $1.24 per share, compared to $15.7 million, or $1.39 per share, in 1992.

Eagle-Picher Industries

Eagle-Picher Industries, Cincinnati parent of the Wolverine gasket plant in Blacksburg, on Wednesday reported sales of $661.5 million for the fiscal year ended Nov. 30 compared with $611.5 million in 1992. Operating income declined modestly to $43.8 million from $46.6 million. The company took a net loss of $1.2 billion, or $104.92 per share, compared with $28.9 million, or $2.63 per share in 1992.

For the fourth quarter, sales were $175.9 million, up from $161.3 million in the 1992 quarter. The net loss was $1.2 billion, or $106.14 per share, compared with net income of $7.3 million, or 66 cents per share.

Kollmorgen Corp.

Kollmorgen Corp., Simsbury, Conn., parent of Inland Motors and Industrial Drives in Radford, on Wednesday reported 1993 net income of $4.8 million, or 25 cents per share, on sales of $185.5 million. This compares with a 1992 loss of $8.7 million, or $1.14 per share, on sales of $194.9 million.

Fourth-quarter net income was $2.5 million, or 20 cents per share, on sales of $45 million. This compares with a loss of $9.1 million, or $1.01 per share, in the 1992 quarter.

Blockbuster

Blockbuster Entertainment Corp., Fort Lauderdale, Fla.-based chain of video rental stores with outlets in the Roanoke Valley, on Wednesday reported record net income and revenue for the quarter and year ended Dec. 31.

For the quarter, net income rose 71 percent to $81.3 million, or 34 cents per share, from $47.6 million, or 23 cents per share, in the 1992 period. Net income for the year rose 64 percent to $243.6 million, or $1.10 per share, from $148.3 million, or 76 cents per share in 1992.

Revenue for the quarter was $723.7 million, up 66 percent from $436.7 million for the 1992 period. Revenue for the year was $2.2 billion, up 69 percent from $1.3 billion in 1992.

Premier Bankshares

Premier Bankshares Corp. of Tazewell reported 1993 net income of $8.3 million, or $1.89 a share, up 11.1 percent from $7.5 million, or $1.70 a share, in 1992.

For the fourth quarter, the company earned $1.7 million, or 38 cents a share, compared to the prior year's $1.6 million, or 36 cents.

Over the year, Premier's assets grew 16.08 percent from $480.67 million to $557.96 million.

Premier Banks operate in 25 locations in Southwest Virginia.