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

DATE: TUESDAY, May 16, 1995                   TAG: 9505160110
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

EARNINGS

First Colony Corp., Lynchburg holding company for life insurance companies, reported net income of $32.9 million, or 65 cents per share, on life insurance sales by face amount of $10.72 billion, compared with year-earlier $39.3 million, or 78 cents per share, on sales of $5.96 billion.

Fleetwood Enterprises Inc., Riverside, Calif. producer of recreational vehicles and manufactured housing with operations in Rocky Mount, said it expects earnings for its fourth quarter and fiscal year, ended April 30, to be well below expectations of analysts who follow the company. Earnings, to be reported May 31, will be in the range of 32 to 37 cents per share for the quarter, or $1.80 to $1.85 for the fiscal year, the company said, because of declining sales of recreational vehicles and operating inefficiencies. Earlier this month, Fleetwood reported record revenues for the year of $2.86 billion, up 21 percent from $2.37 billion a year earlier.

Kmart Corp., Detroit-based retailer, reported a net loss of $28 million, equal to 6 cents per share, on sales of $7.8 billion for its first quarter ended April 26, compared with year-earlier net income of $18 million, or 4 cents per share, on sales of $7.2 billion.

Lowe's Cos. Inc. reported net earnings of $58.9 million, or 36 cents per share, on sales of $1.63 billion for its first quarter ended April 30, compared with year-earlier $51.8 million or 34 cents per share, on sales of $1.39 billion.

Toys R Us Inc., Paramus, N.J., retailer, reported net income of $18.4 million, or 7 cents per share, on sales of $1.49 billion in its first quarter ended April 29, compared with year-earlier $37.6 million, or 13 cents per share, on sales of $1.46 billion.

by CNB