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

DATE: THURSDAY, July 21, 1994                   TAG: 9407250019
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Piedmont BankGroup Inc. of Martinsville reported Wednesday that first-half earnings were $4.6 million or $1.23 a share. That was a 19 percent increase over last year's report of $3.84 million or $1.03 a share for the comparable period.

Directors of the company declared a dividend of 17 cents a share payable Sept. 30 to shareholders on Sept. 15. That is an increase of 6.3 percent over the last cash dividend of 16 cents a share paid June 30. So far this year, the dividend has increased twice for a total of 13.3 percent.

Chairman Michael R. Brennan said loan growth and an improved interest margin were key drivers for improving earnings performance. He said one-time items in the amount of $505,811 or 15 cents a share contributed to first half earnings.

Piedmont BankGroup has assets of $794 million and operates six banks with 28 offices in Western Virginia.

USAir

USAir Group, Arlington parent of USAir with operations in Roanoke, reported second quarter net income of $13.8 million on revenue of $1.9 billion, compared with net income of $5.8 million on revenue of $1.8 billion a year earlier. After preferred dividends, however, the airline company reported a loss per common share of 9 cents compared with a loss of 23 cents per share a year earlier.

For the first six months, USAir reported a net loss of $182.8 million on revenue of $3.6 billion, or $3.72 per share. In last year's first half, the company reported a net loss of $98.9 million on revenue of $3.5 million, or $2.64 per share.

Federal-Mogul

Federal-Mogul Corp., Southfield, Mich. operator of an engine-bearings plant in Blacksburg, reported second quarter earnings of $20.4 million, or 47 cents per share, compared with $15.3 million, or 43 cents, a year earlier. Sales were $474.8 million compared to $401.8 million. For the first six months, net income was $35.4 million, or 89 cents per share, compared with $22.8 million, or 72 cents. Sales were $935.1 million, up from year-earlier $812.3 million.