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

DATE: SATURDAY, April 21, 1990                   TAG: 9004210249
SECTION: BUSINESS                    PAGE: A5   EDITION: METRO 
SOURCE: 
DATELINE: GREENWICH, CONN.                                LENGTH: Short

PITTSTON REPORTS LOSS AFTER STRIKE

The Pittston Co. reported a first quarter loss of $10.1 million or 27 cents a share Friday, the first results reported since the end of a bitter 10-month-long strike against the company's coal division.

For the first quarter last year, prior to the beginning of the strike against Pittston Coal Group, the company reported a net income of $15 million, or 40 cents a share.

Paul W. Douglas, Pittston chairman and chief executive officer, said that while the overall loss for the quarter was disappointing, he was encouraged by March operating results that produced substantially greater than expected earnings for that month of 14 cents a share despite unusual charges at Brink's of $1.4 million.

Douglas said he was very pleased with the strong results achieved throughout the quarter by Pyxis Resources Co., American Eagle Coal Co. and Brink's Home Security, Inc., with both Pyxis and Brink's Home Security producing record profits for the quarter.

He said he was also encouraged by the performance of Pittston Coal Group, aided by a $1.3 million gain on a small sale of reserves. The coal division recorded a modest profit in March, the first full month since the striking coal workers returned to work.

- Associated Press

by CNB