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Culp Inc., High Point, N.C., reported sales and earnings for the fourth quarter and fiscal year ended May 2, 1999. Net sales for the quarter totaled $132.2 million compared with $135.8 million during 1998.Net income for the quarter was $2.9 million, or $0.23 per diluted share, compared with $4.2 million, or $0.31 per diluted share in the fourth quarter of fiscal 1998. For the year, net sales increased to $483.1 million compared with $476.7 million in fiscal 1998.Net income for the year was $3.1 million, or $0.24 per diluted share, compared with $15.5 million, or $1.19 per diluted share in fiscal 1998.JPS Textile Group Inc., Greenville, S.C., announced results for the second quarter and six months ended May 1, 1999.For the second quarter, there was a net loss from continuing operations of $3.5 million, or $0.35 per diluted share, compared with net income from continuing operations of $2.3 million, or $0.23 per diluted share, for the second quarter of fiscal 1998.The reported net loss for the quarter was $26.3 million, or $2.63 per diluted share, compared with net income of $2.9 million, or $0.29 per diluted share, for the same period in 1998.For the first half of fiscal 1999, there was a net loss from continuing operations of $3.1 million, or $0.31 per diluted share, compared with net income from continuing operations of $3.8 million, or $0.38 per diluted share for the first half of fiscal 1998.Kellwood Co., St. Louis, reported record sales and earnings before unusual items for both the fourth quarter and the year ended April 30.Sales for the year increased 3 percent to $2.15 billion, from $2.09 billion last year.Net earnings declined to $1.95 million, or $0.07 per diluted share, due to special charges totally $62.34 million taken in the fourth quarter. Earnings before unusual items and income taxes increased 16 percent or $101.5 million, from $87.6 million for the same period in 1998.Diluted earnings per share before unusual items increased the sales and earnings of Koret Inc., which was merged into Kellwood in April 1999.Sales for the fourth quarter were a record $628.4 million, up 6 percent from $594.9 million a year ago.Texfi Industries Inc., New York, recently announced a loss of $3.202 million, or $0.36 per basic and diluted share, for its second quarter ended April 30, 1999, compared to a loss of $2.768 million, or $0.31 per share, for the same period last year.Net sales in the second quarter 1999 declined by 31.2 percent, to $23.438 million, from $34.084 million for the second quarter 1998.Total costs dropped by 28.9 percent, to $24.693 million, from $34.738 million in the same period of 1998.


August 1999




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