Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, February 23, 1994 TAG: 9402230126
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Adolph Coors Co., the Golden, Colo., brewer operating a bottling and distribution plant in Rockingham County, on Tuesday reported 1993 net sales of $1.58 billion, up 2 percent from $1.55 billion in 1992. Before fourth-quarter restructuring charges of $122.5 million, operating income was $77.8 million, up 6.1 percent from $73.3 million. After the special charges, the company posted a net loss of $41.9 million, or $1.10 per share, down from income of $35.7 million, or 95 cents per share, in 1992.
For the fourth quarter, net sales were $337.3 million, down 0.6 percent from $339.2 million a year earlier. Before the special charges, net income was $0.3 million, or 0.01 cent per share, up from a loss of $3.5 million, or 0.09 cent per share, in the 1992 quarter. After the special charges, the company recorded a net loss of $75.1 million, or $1.97 per share, for the quarter.
Westvaco Corp.
Westvaco Corp., New York manufacturer of paper, packaging and chemicals with a bleached board division in Covington, on Tuesday reported first-quarter sales of $577 million, up 2.9 percent from the 1992 quarter. Net income was $15.8 million, or 24 cents per share, compared with $76.1 million, or $1.14 per share, in the 1993 quarter.
Lowe's Cos. Inc.
Lowe's Cos. Inc., North Wilkesboro, N.C., building supplies chain operating Roanoke Valley stores, on Tuesday said earnings climbed 56 percent for the 1993 fiscal year, mainly because of its transition from small catalog showrooms to retail warehouse centers for its home-improvement merchandise.
For the fiscal year ended Jan. 31, Lowe's said it made after-tax profits of $131.8 million, up from $84.7 million the previous year. Earnings per share climbed to $1.79, from $1.16 a year earlier. Sales rose 18 percent to $4.538 billion over the year-earlier $$3.846 billion.
by CNB