REPORTED EARNINGS

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

DATE: WEDNESDAY, February 5, 1992                   TAG: 9202050090
SECTION: BUSINESS                    PAGE: C7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short
REPORTED EARNINGS
Tultex Corp.
Tultex Corp., a Martinsville fleece-wear maker, on Tuesday reported net income of $9.9 million, or 36 cents per share, down from $23.5 million, or 85 cents per share in 1990. Sales came to $315.2 million, down from $355.1 million. Last year's earnings included $2.8 million from an accounting change.
John M. Franck, chairman, said the "disappointing" figures were the result of lower production volume and unabsorbed fixed costs. The company's order backlog at the end of the year was 47 percent higher than a year ago, he said, and "despite the slow economy, we expect business to be strong for 1992."
Fourth-quarter sales were $121.3 million, up 12.6 percent from $107.8 million in 1990's quarter. Earnings were $7.1 million, or 26 cents per share, down 34.1 percent from $10.7 million, or 39 cents per share.
\ Kroger Co.
The Kroger Co., Cincinnati-based food manufacturer and retailer operating supermarkets, a regional headquarters and distribution center in the Roanoke Valley, said Tuesday net earnings for 1991 were $79.9 million, or 89 cents per share, down 3 percent from $82.4 million, or 95 cents per share, in 1990. Sales rose 5.4 percent to $21.4 billion from the year earlier $20.3 billion.
Net earnings in the fourth quarter were $29.4 million, or 33 cents per share, down 56 percent from $66.9 million, or 77 cents per share, in the 1990 quarter. Sales were $5.1 billion in last year's quarter, up 2.9 percent from $4.9 billion a year earlier.

by Bhavesh Jinadra by CNB