THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, August 12, 1995 TAG: 9508120110
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 22 lines
Harmony Products Inc., the Chesapeake-based fertilizer company, on Friday reported a net loss of $2.36 million, or $1.11 a share, for the second quarter - up from a loss of $379,000, or 27 cents a share, in the same period last year. Sales declined 23 percent, to $494,000. The latest loss included a special provision of $1.88 million, or 88 cents a share, to cover the previously announced shutdown of the main production line at its Chesapeake factory. Members of the company's board recently bought about 3 million shares of newly issued stock - at an average of 91 cents a share - to keep the company solvent and cover bond obligations. (Staff) by CNB