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

DATE: TUESDAY, August 2, 1994                   TAG: 9408030023
SECTION: BUSINESS                    PAGE: C-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Cooper Industries Inc., Houston operator of the Crouse-Hinds electrical products plant in Roanoke, reported second-quarter net income of $83.6 million, or 62 cents per share, down from $102.9 million, or 78 cents, a year earlier. Revenues were $1.47 billion, down from $1.61 billion. For the first six months, net income was $132 million, or 92 cents per share, down from $166 million, or $1.22 , a year earlier. Revenues were $2.79 billion, down from $3.08 billion.

Charter Federal

Charter Federal Savings Bank said Monday it earned $9.6 million, or $2.09 a share, during the fiscal year ended June 30. That compared with a loss of $35.9 million, or $49.03 a share, on fewer shares than the bank now has outstanding. About $41 million of that year's loss came from writing off bookkeeping credits or good will that the government earlier had granted Charter for taking over a series of failed thrifts.

Charter, based in Bristol and operating a regional headquarters in Roanoke, said improvement in asset quality during fiscal year 1994 was reflected by a reduction of $5.2 million in nonperforming assets, from $18.4 million to $13.1 million.

Stockholder equity rose over the year from a $9.9 million deficit to $42.2 million on June 30. Charter said it meets all requirements for recognition as a well-capitalized financial institution according to government regulations. This status followed a $42.5 million offering of subscription rights to new stock during the year.

For the last quarter, Charter's income was $2.2 million, or 43 cents a share, compared with income of $2.2 million, or $3.01 a share, for the comparable period last year.

Penn Virginia

Penn Virginia Corp., a Philadelphia-based energy company with extensive land holdings in Southwest Virginia, reported second-quarter and first six-month earnings for 1994 were up from last year by 27 percent and 26 percent respectively.

Net income for the quarter was $3.27 million, or 76 cents per share, compared with $2.58 million or 60 cents per share, in the same quarter of 1993. For the first six months, net income was $6.52 million, or $1.52 per share, compared with $5.17 million in the first half of last year.

Winn-Dixie Stores

Winn-Dixie Stores Inc., Jacksonville, Fla., food retailer with supermarkets in the Roanoke Valley, reported net earnings of $216.1 million for its fiscal year ended June 29, compared with $236.4 million a year earlier. Earnings per share of common stock fell to $2.90 from $3.11. Sales for the year were $11.08 billion, up from $10.93 billion. For its fourth quarter, Winn-Dixie said, net income was $64.4 million, or 87 cents per share, compared with $82.8 million, or $1.10 per share a year earlier. Sales were $2.59 billion compared with $2.69 billion.