ROANOKE TIMES 

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

DATE: WEDNESDAY, February 6, 1991                   TAG: 9102060113
SECTION: BUSINESS                    PAGE: B5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

TULTEX SHOWS RECORD SALES, EARNINGS RISE

Tultex Corp., which last fall shut its plants because of slow sales, on Tuesday reported record sales and "substantially increased" earnings for its fiscal year ending Dec. 29.

The Martinsville company said net income for the year was $23.5 million or 85 cents a share, up 370 percent from $5 million or 18 cents a share a year ago. Sales came to $355.1 million, a 6.3 percent gain from $334 million.

Chairman John Franck credited the growth to higher sales, reduced product costs and tighter control of non-manufacturing expenses.

Fourth-quarter earnings were $10.7 million, up 435 percent from $2 million; sales were $107.8 million, down 12.2 percent. Tultex and other sweat-suit makers closed plants at the end of the year because of slowed demand. - Staff report 


 by CNB