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

DATE: FRIDAY, April 22, 1994                   TAG: 9404220208
SECTION: BUSINESS                    PAGE: A9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Long

REPORTED EARNINGS

MCI Communications Corp., Washington-based telephone long-distance company with operations in Roanoke, reported first-quarter net income of $209 million, or 36 cents per share - a more than 38 percent increase over year-earlier $151 million, or 28 cents per share. Revenues for the quarter was $3.22 billion, up 15 percent over $2.81 billion in the 1993 first quarter.

\ BellSouth Corp.

BellSouth Corp., Atlanta parent of BellSouth Communication Systems of Roanoke, reported first quarter net income of $585.3 million, or $1.18 per share, up from a restated $343.8 million, or 69 cents per share, a year earlier. Revenues for the quarter rose 7.6 percent to $4.12 billion from year-earlier $3.83 billion.

Tultex Apparel

Tultex Corp., Martinsville fleecewear maker with operations in the Roanoke Valley, reported sales for the first quarter ended April 2 were $86.3 million compared to $91 million a year earlier. The net loss for the quarter was $4.9 million or 18 cents per share, versus a loss of $1.4 million or 6 cents per share for the same period last year.

Scott & Stringfellow

Scott & Stringfellow Financial Inc., Richmond-based financial services company operating a securities brokerage in Roanoke, reported net income for its third fiscal quarter ended March 25 declined by 30 percent compared to the same period last year, while earnings for the first nine months of fiscal 1994 reflected a 2 percent decline. Net income for the quarter was $547,000, or 31 cents per share compared to $776,000, or 44 cents per share, for the comparable period last year.

Total revenues for the third quarter of 1994 grew by about 2 percent to $12.4 million from $12.2 million in 1993.

CSX Corp.

CSX Corp., Richmond based transportation and real estate company with operations in Western Virginia, reported earnings for the first quarter of 1994 were $74 million, 71 cents per share. This compares with a reported loss of $9 million, 9 cents per share, in the first quarter of 1993, when the company recorded a $93 million pretax restructuring charge at its container-shipping unit. Earnings for the 1994 quarter rose 42 percent from last year's results, which would have been $52 million, 50 cents per share, excluding the charge.

Bombay Co.

The Bombay Co. Inc., a Fort Worth, Texas home-furnishings retailer with stores in Western Virginia, reported net income of $2.9 million or 8 cents per share for its third quarter ended April 3, compared with a year-earlier loss of $5.9 million or 17 cents per share. Sales for the quarter were $67.9 million, up 30 percent over $52.2 million a year earlier.

Allstate Corp.

The Allstate Corp., Northbrook, Ill.-based insurance company with an operations center in Roanoke County, reported a first-quarter consolidated net loss of $275.2 million, or a loss of 61 cents per share, compared to net income of $320.1 million, or 76 cents per share for the first quarter in 1993. The net loss for the quarter was due to significant catastrophe losses, primarily California earthquake losses which recently were increased to an estimated $950 million. Income from life operations for the first quarter in 1994 totaled $64.4 million, compared with $62.3 million for the same period in 1993. Operating income increased $13.2 million to $62.0 million for the 1994 quarter from $48.8 million for the 1993 quarter, primarily due to improved profit margins on annuity products.

United Dominion Realty

United Dominion Realty Trust Inc. Richmond owner of apartment complexes in the Roanoke Valley, reported funds from operations of $9.8 million or 23 cents per share for the first quarter, up from $7.3 million or 21 cents per share a year earlier.

For the first quarter, the trust reported rental income of $26.7 million, income from property operations excluding depreciation of $15.3 million and net income of $3.4 million.

Hershey Foods Corp.

Hershey Foods Corp., operator of a chocolate plant at Stuarts Draft and a pasta plant in Winchester, said consolidated net sales for its first quarter ended April 3 were $883.9 million compared with $897.8 million a year earlier. Net income for the first quarter of 1994 was $53 million or 61 cents per share, compared with $1.1 million or 1 cent per share in the 1993 quarter.

Ruddick Corp.

Ruddick Corp., Charlotte, N.C., parent of Harris Teeter supermarkets, reported sales of $466 million in the second fiscal quarter ended April 3, up 11 percent over the $418 million reported for the comparable period last year. Net income of $7.4 million, or 32 cents per share, was down 7 percent from the $8.0 million, or 33 cents per share a year earlier.

Caterpillar Inc.

Caterpillar Inc., Peoria, Ill., parent of Carter Machinery Co. of Salem, reported first quarter sales and revenues of $3.29 billion, up 22 percent over year-earlier $2.70 billion. Company profit was $192 million, or $1.89 per share, compared with $34 million, or 34 cents per share, a year earlier.