Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, August 8, 1995 TAG: 9508080085
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Long
Pulaski Furniture Corp. on Friday reported a $602,000 loss for its third quarter despite a 9.2 percent increase in sales from the same quarter last year. The Pulaski maker of home furnishings and clocks cited an industrywide slowdown in sales, which required substantial periods of down time in its factories.
Sales, however, were up in the first three quarters from greater production capacity and higher average selling prices, the Pulaski company said.
The third-quarter net loss, equal to 21 cents per share, was on sales of $30.2 million, compared with year-earlier net income of $319,000, or 11 cents per share, on sales of $27.7 million. For the nine months ended July 9, net income was $1.9 million, or 65 cents, on sales of $110.5 million, compared with $2.3 million, or 80 cents, on sales of $92.7 million.
Akzo Nobel
Akzo Nobel NV, Dutch parent of Akzo Nobel Coatings Inc. of Roanoke, reported second-quarter net income of $249.2 million, or $3.50 per share, on sales of $3.51 billion compared with year-earlier $186.9 million, or $3.32, on sales of $3.61 billion. For six months, net income was $512.1 million, or $6.84, on sales of $7.13 billion, compared with $369.3 million, or $5.89, on sales of $7.36 billion. The company reported results in Dutch guilders; the U.S. equivalents are based on June 30 currency exchange rates.
Buffets
Buffets Inc., Eden Prairie, Minn., operator of Old Country Buffet restaurants, reported second-quarter net earnings of $6.9 million, or 22 cents per share, on sales of $98.9 million, compared with year-earlier $7.6 million, or 24 cents, on sales of $119.3 million. For six months, net earnings were $12.9 million, or 41 cents, on sales of $211.4 million, compared with $14.4 million, or 46 cents, on sales of $261.4 million.
Flowers Industries
Flowers Industries Inc., Thomasville, Ga., baker with operations in Roanoke, reported net income of $42.3 million, or $1.12 per share, on sales of $1.13 billion for its fiscal year ended July 1, compared with year-earlier $29.5 million, or 80 cents, on sales of $989.8 million. Fourth-quarter net income was $16.3 million, or 43 cents, on sales of $369.2 million, compared with $9.3 million, or 25 cents, on sales of $316.5 million.
May Department Stores
May Department Stores Co., St. Louis parent of Hecht's and Payless ShoeSource chains, reported second-quarter net earnings of $141 million, or 53 cents per share, on revenues of $2.95 billion, compared with year-earlier $130 million, or 49 cents, on revenues of $2.71 billion. For six months, net earnings were $255 million, or 95 cents, on revenues of $5.74 billion, compared with $242 million, or 90 cents, on revenues of $5.33 billion.
Mod-U-Kraf Homes
Mod-U-Kraf Homes Inc. of Rocky Mount reported second-quarter net income of $102,191, or 12 cents per share, on sales of $2.2 million, compared with year-earlier $82,441, or 10 cents per share, on sales of $2.3 million.
Scott & Stringfellow
Scott & Stringfellow Financial Inc., Richmond holding company for a regional securities brokerage, reported net income of $2.1 million, or $1 per share, on revenues of $54.1 million for its fiscal year ended June 30, compared with year-earlier $3.0 million, or $1.40, on revenues of $52.1 million. Fourth-quarter net income was $578,000, or 28 cents, on revenues of $15 million compared with year-earlier $501,000, or 24 cents, on revenues of $12.4 million.
Sterile Concepts
Sterile Concepts Holdings Inc., Richmond supplier of surgical trays to hospitals and a former unit of Carilion Health System of Roanoke, reported third-quarter net earnings of $2 million, or 36 cents per share, on sales of $37 million, compared with year-earlier pro forma earnings of $2.8 million, or 50 cents, on sales of $34.9 million. For nine months, net earnings were $6.1 million, or $1.10, on sales of $108 million, compared with year-earlier pro forma net earnings of $7.1 million, or $1.29, on sales of $95.6 million.
Vishay Intertechnology
Vishay Intertechnology Inc., Malvern, Pa., maker of passive electronic components for industry and parent of Vitramon Inc. of Roanoke, reported second-quarter net earnings of $24.7 million, or 47 cents per share, on sales of $315.5 million, compared with year-earlier $14.2 million, or 30 cents, on sales of $226.7 million. For six months, net earnings were $46.8 million, or 89 cents, on sales of $625.7 million, compared with $26.9 million, or 57 cents, on sales of $452.7 million.
Virginia First Federal
Virginia First Financial Corp., Petersburg-based thrift with offices in the Roanoke Valley, reported net earnings of $7.6 million for its fiscal year ended June 30, compared with $6.98 million a year earlier. The net earnings represent a 1.19 percent return on average total assets and a 16.58 percent return on average equity, also up from fiscal 1994.
by CNB