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

DATE: TUESDAY, August 9, 1994                   TAG: 9408100016
SECTION: BUSINESS                    PAGE: C8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Union workers at the J.M. Clipper Polymers Corp. plant in Iron Gate voted Saturday to end their weeklong strike against a new three-year contract proposed by the company.

Workers at the plant, formerly called Acadia Polymers, walked out at midnight July 30 in a dispute over contract language regarding work rules at the plant.

Bill Eacho of the International Association of Machinists and Aerospace Workers said he remained in touch with the company after the start of the strike, and a breakthrough occurred late last week.

Workers voted by a 2-1 margin to end the strike. They returned to work at 11 p.m. Sunday.

The company agreed to make changes in the contract language that satisfied the workers' demands, Eacho said.

-Staff report

Earnings ...

British Airways, part owner of USAir Group, reported first-quarter net profits of 66 million British pounds, or $101.6 million, up 22 percent from 54 million pounds a year earlier. Revenue for the quarter, ended June 30, was 1.69 billion pounds, or $2.60 billion, up 11 percent from 1.52 billion pounds. Earnings per American Depository Shares were 64 British pence, or 99 cents, compared with year-earlier 63 pence. Currency exchanges quoted as of June 30 showed a pound equal to $1.54.

Sara Lee Corp., Chicago operator of knitwear mills in Martinsville and a L'eggs distribution center in Salem, reported net income before extraordinary accounting items of $729 million for its fiscal year ended July 2. That compared with $704 million a year earlier. Per-share primary earnings rose 5 percent to $1.47. Sales rose 6.6 percent to $15.5 billion. After adoption of accounting charges for income taxes and restructuring to improve productivity, net income was $199 million, or 37 cents per share. Fourth quarter sales were $4.1 billion, up 5.6 percent from the year-earlier quarter. Including a $495 million after-tax restructuring charge, the company reported a net loss of $309 million, or 65 cents per share, compared with 38 cents a year earlier.