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

DATE: THURSDAY, October 20, 1994                   TAG: 9410200059
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

EARNINGS

Chesapeake Corp., Richmond parent of Chesapeake Packaging Co. of Roanoke, reported third-quarter net income of $15.1 million, or 64 cents per share, compared to $2.6 million, or 11 cents, a year earlier. Sales were $266.9 million, up from $238.3 million. For the nine months, net income was $23.4 million, or 99 cents per share, compared with $3.1 million, or 13 cents, a year earlier. Sales were $715.8 million, compared with $684.0 million.

Kroger Co.

The Kroger Co., Cincinnati-based supermarket chain with regional offices and stores in Western Virginia, reported third-quarter net income after an extraordinary charge for debt retirement of $36 million, or 31 cents per share, compared with $16.4 million, or 16 cents, a year earlier. Sales for the quarter ended Oct. 8 were $6.65 billion, up from year-ago $6.48 billion. For the first nine months, net earning were $150.7 million, or $1.25 per share, compared with a year-earlier loss of $94.9 million, or 76 cents. Sales were $17.37 billion, up from $16.98 billion.

Piedmont BankGroup

Piedmont BankGroup of Martinsville has reported income of $2.2 million, or 59 cents a share, for the third quarter of 1994. That was an increase of 239 percent from the $600,000, or 18 cents, earned in the third quarter last year.

For the first nine months of 1994, income was $6.8 million, or $1.82 a share, up 51.9 percent from last year's $4.5 million, or $1.21.

Loans reached $491 million at the end of September compared with $480.7 million at the end of June and $457.3 million a year earlier.

Piedmont BankGroup reported assets of $802.6 million and deposits of $716.6 million. It operates six banks with 28 offices in Western Virginia. The board has declared the regular dividend of 17 cents a share payable Dec. 31 to stockholders of Dec. 15.

VF Corp.

VF Corp., Wyomissing, Pa., parent of Bassett-Walker Inc. of Martinsville, reported net income of $87.8 million, or $1.34 per share, for its third quarter ended Oct. 1, compared with $76.8 million, or $1.18, a year earlier. Sales were $1.37 billion, up from $1.15 billion. For the nine months, net income was $199.6 million, or $3.05 per share, compared with $185.3 million, or $2.86. Sales were $3.68 billion, compared with $3.22 billion.

Appalachian Power

Appalachian Power Co., Roanoke-based electric utility, reported net income of $21.5 million for the third quarter, down from $27.7 million a year earlier. The company, a subsidiary of American Electric Power Co. of Columbus, Ohio, does not report per-share earnings. Operating revenues were $371.8 million in the quarter, down from year-earlier $393.7 million. In the 12 months ended Sept. 30, earnings were $100.1 million, down from $118 million a year earlier. Operating revenues were $1.57 billion, up from $1.49 billion.