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

DATE: THURSDAY, September 21, 1995                   TAG: 9509210058
SECTION: BUSINESS                    PAGE: B-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

First Union Corp. has launched "WEBInVision," a service enabling consumers and businesses to manage their financial operations via the Internet.

The bank expects to be the first financial institution to offer the service to commercial customers. It will start in November after extensive customer testing in October. Soon after the introduction, the program will be enhanced to allow customers to conduct financial transactions.

Customers will be given a free software package provided by First Union and MCI Communications. Called Netscape Navigator, the software connects users directly to First Union's home page, where they can make transactions. Customers also will be able to reach the bank's consultants by e-mail and will have access to a variety of national and regional economic data.

- Staff report

Briefly ...

Vishay Intertechnology Inc., Malvern, Pa., maker of passive electronic components for industry and parent of Vitramon Inc. of Roanoke, said Wednesday it has completed its offering of 5 million shares of common stock and received $200.9 million in net proceeds to finance expansion of its manufacturing capacity and acquisitions.

Benjamin P. Jenkins, president and chief executive officer of Roanoke-based First Union National Bank of Virginia, and Roanoke lawyer William Lemon have been elected to the board of directors of the River Foundation. The 14-member board, which oversees planning and private-sector fund raising for Explore Park in Roanoke County, held its annual meeting this week.

Earnings

Heilig-Meyers Co., Richmond-based home furnishings retailer with stores in Western Virginia, reported second-quarter net earnings of $11.3 million, or 23 cents per share, on sales of $270.4 million, compared with year-earlier $14.8 million, or 30 cents, on sales of $223.4 million. For six months, earnings were $29.8 million, or 60 cents per share, on sales of $536.3 million, compared with $33.1 million, or 66 cents, on sales of $446.5 million.

Shoney's Inc., Nashville, Tenn., restaurant chain with outlets in Western Virginia, reported third-quarter net income of $10.2 million, or 25 cents per share, on revenues of $253.9 million, compared with year-earlier $16.2 million, or 39 cents, on revenues of $259.5 million. For nine months, net income was $29.4 million, or 71 cents per share, on revenues of $817.5 million, compared with $51.8 million, or $1.18, on revenues of $826.5 million.

Tultex Corp., Martinsville fleecewear and activewear maker, said Wednesday its third-quarter sales would be lower than expected, primarily because customers have deferred orders into the fourth quarter.

Tultex estimated net income for the quarter would be above third-quarter 1994 levels but would fall below analysts' estimates as published by First Call, an investment newsletter. Those estimates ranged from 37 cents to 45 cents per share. The company said 1995 net income should be within the range of analysts' expectations - 32 cents to 55 cents per share. Tultex will release third-quarter sales and earnings Oct. 19.