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

DATE: THURSDAY, August 12, 1993                   TAG: 9308120109
SECTION: BUSINESS                    PAGE: B7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Richfood Holdings Inc., Richmond-based food wholesaler, on Wednesday reported record net earnings of $4.4 million, or 42 cents per share, for the first quarter ended July 24, up 29.9 percent from $3.4 million, or 32 cents per share, for the 1992 quarter. The net after-tax margin was 1.5 percent compared to 1.38 percent. Sales were $293.4 million, up 19.4 percent from $245.6 million.

Contel Cellular

Contel Cellular Inc., Atlanta-based operator of cellular telephone service in Western Virginia, on Wednesday reported a net loss for the quarter and six months ended June 30 of $19.8 million, or 20 cents per share, and $53.3 million, or 53 cents per share, respectively, compared with a net loss of $29.1 million (29 cents) and $59.5 million (59 cents) for the 1992 periods.

Second-quarter revenues rose 27 percent to $89.4 million from $70.6 million in 1992. Subscriber additions totaled 37,400, a 109 percent gain over the 1992 quarter and 53 percent over the first quarter. At June 30, subscribers totaled 389,000, up 43 percent.

The $2 million operating loss for the quarter was $8.8 million lower than the loss for the 1992 period. Net loss of $19.8 million was $9.3 million lower than the 1992 quarter.

Revenues for the six months were $167.1 million, up 26 percent from $133 million in the 1992 period. The year-to-date operating loss of $11.5 million was $10.7 million less than the $22.2 million in the 1992 period. The six-month net loss of $53.3 million was $6.2 million less than the loss for the 1992 period.

Woolworth

Woolworth Corp., New York retailer with F.W. Woolworth, Champs Sports, Foot Locker and Lady Foot Locker stores in the Roanoke Valley, on Wednesday reported second-quarter net income of $2 million, or 1 cent per share, compared to $33 million, or 25 cents per share, in the 1992 quarter. Revenues rose 2.6 percent to $2,288 million from $2,230 million. Operating profit (income before corporate expense, interest and income taxes) was $33 million compared to $88 million.

For the first half, net income was $3 million, or two cents per share, compared to $50 million, or 38 cents per share, in the 1992 period. Revenues rose 2.2 percent, to $4,423 million from $4,326 million. Operating profit was $59 million compared to $147 million.

RF&P Corp.

RF&P Corp., the real estate arm of the Virginia state employees retirement system, on Wednesday reported a slight increase in second-quarter earnings partly due to gains in rental income. Earnings were $4.5 million, up slightly more than 2 percent from $4.4 million in the 1992 period. Sales increased to $10.5 million from nearly $10.2 million.

For the first six months, earnings were $6.2 million, up from nearly $6 million in the year-earlier period. Sales increased to $16.3 million from $14.5 million.

Scott & Stringfellow

Scott & Stringfellow Financial Inc. of Richmond, operator of a stock brokerage in Roanoke, on Wednesday reported record revenues and earnings for the year ended June 25. Net income was $3.5 million, up 6 percent from $3.3 million a year earlier. Earnings per share were $1.97, up 7 percent from $1.84. Total revenues were $48.1 million, up 4 percent from $46.2 million in 1992.

For the fourth quarter, net income rose 27 percent to $963,000 from $756,000 for the 1992 quarter. Earnings per share were 54 cents, up 26 percent from 43 cents. Revenues increased 19 percent to $13 million from $11 million.