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

DATE: THURSDAY, July 22, 1993                   TAG: 9307220082
SECTION: BUSINESS                    PAGE: B7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

SPRINGS INDUSTRIES

Fort Mill, S.C.-based Springs Industries, which has begun attempts to acquire Fieldcrest Cannon Inc., reported second-quarter net sales of $483.9 million, nearly equal to $486 million in the 1992 quarter. Net income was $8.9 million, or 50 cents per share, down 21 percent from $11.2 million, or 63 cents per share, in the 1992 quarter. Operating earnings fell $3.2 million, or 12 percent.

For the first six months, sales were $985.6 million, up 4 percent from $948.9 million in the 1992 half. Net income before accounting charges was $18.1 million, $1.01 per share, up 9 percent from $16.6 million, or 93 cents per share. With the charges, the net loss was $54.4 million, $3.06 per share.