Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, February 8, 1992 TAG: 9202080235
SECTION: BUSINESS PAGE: A-10 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
REPORTED EARNINGS
Piedmont BankGroupPiedmont BankGroup Inc., based in Martinsville, has reported 1991 earnings of $2.98 million, or $1.02 a share, down 28.2 percent from $4.15 million, or $1.43 a share, in 1990.
For the fourth quarter, earnings were 29 cents a share compared to the prior year's loss of 3 cents a share, the bank said.
Non-performing assets at the end of last year were $15.8 million, down from $16.9 million at 1990's end. Total deposits at the end of December were $606.8 million and loans stood at $443.1 million. Assets were $691.2 million.
Piedmont BankGroup operates Piedmont Trust Bank, Bank of Carroll, First National Bank of Ferrum, First Community Bank, First National Bank of Stuart and First National Bank of Saltville.
Hercules
Hercules Inc., Wilmington, Del., operator of the Army arsenal at Radford, on Friday reported fourth-quarter net income of $34.1 million, or 72 cents per share, up 1,211 percent from fourth-quarter 1990 net income of $2.6 million, or 6 cents per share, which included nonrecurring charges.
For 1991, net income was $94.9 million, or $2.01 per share, off 1.1 percent from 1990 net income of $96 million, or $2.04 per share. Sales for 1991 were $2.9 billion, down 9.4 percent from $3.2 billion. Fourth-quarter sales were $710 million, down 13.5 percent from the 1990 quarter.
Food Lion
Food Lion Inc., a Salisbury, N.C., supermarket chain with Western Virginia stores, reported net income for fiscal 1991 of $205.2 million, or 64 cents per share, up 18.9 percent from $172.6 million, or 54 cents per share. Sales rose 15.3 percent to $6.4 billion from $5.6 billion a year earlier.
For the fourth quarter, net income was $60.8 million, or 19 cents per share, up 12.5 percent from the year-earlier $54 million, or 17 cents per share. Sales were $2 billion, up 13 percent from $1.8 billion.