ROANOKE TIMES 
                      Copyright (c) 1996, Roanoke Times

DATE: Tuesday, May 21, 1996                  TAG: 9605210091
SECTION: BUSINESS                 PAGE: B-7  EDITION: METRO 

REPORTED EARNINGS ROANOKE ELECTRIC STEEL CORP. 2ND QTR. ENDED 4-30 1996 1995 REVENUES $58.1 MILLION $62.2 MILLION NET INCOME $3.4 MILLION $4.2 MILLION SHARE EARNINGS 41 CENTS 52 CENTS 6 MOS. ENDED 4-30 REVENUES $116.6 MILLION $119.7 MILLION NET INCOME $7.3 MILLION $8 MILLION SHARE EARNINGS 90 CENTS $1.00 ROANOKE ELECTRIC STEEL CORP. OF ROANOKE IS A MINI-MILL PRODUCER OF FINISHEDSTEEL PRODUCTS, WHICH ARE SOLD TO STEEL FABRICATORS AND STEEL SERVICE CENTERS,AND OF SEMI-FINISHED STEEL BILLETS, WHICH ARE SOLD TO OTHER STEEL PRODUCERS. THE COMPANY ATTRIBUTES THE DECLINE IN ITS SALES AND EARNINGS TO PRICE-CUTTING FOR FINISHED PRODUCTS EARLIER IN THE YEAR BY COMPETITORS IN THE SOUTH AND MIDWEST. ADDITIONALLY, THE COMPANY HAS CUT SALES OF BILLETS TO OTHER STEEL PRODUCERS AS IT BUILDS UP ITS OWN BILLET INVENTORY IN PREPARATION FOR A COMINGLADLE FURNANCE INSTALLATION THAT WILL TEMPORARILY CURTAIL BILLET MANUFACTURE. THE LIMITED INC. 1ST QTR. ENDED 5-4 1996 1995 REVENUES $1.79 BILLION $1.59 BILLION NET INCOME $28.2 MILLION $20.3 MILLION SHARE EARNINGS 9 CENTS 7 CENTS COLUMBUS, OHIO-BASED LIMITED OPERATES EXPRESS, LERNER NEW YORK, LANE BRYANT, LIMITED, STRUCTURE, ABERCROMBIE & FITCH AND LIMITED TOO STORES AND OWNS 83 PERCENT OF VICTORIA'S SECRET STORES AND BATH & BODY WORKS.

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