THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Tuesday, July 18, 1995 TAG: 9507180267
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 23 lines
Newport News-based Noland Co., a distributor of plumbing and heating supplies, reported Monday a second-quarter net income of $1.9 million, or 52 cents per share, compared to earnings of $1.6 million, or 43 cents per share, during the same period last year. Second-quarter sales of $123.6 million were the highest ever for any quarter, but ``most of the increase came from newer operations we opened late last year,'' Chairman Lloyd U. Noland III said. Overall sales rose 6.6 percent, but sales from existing operations rose 2.1 percent, the company reported. Noland called the 6.6 percent sales increase ``disappointing,'' which he attributed to a slowing of the housing construction and factory production markets. (Staff) by CNB