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Article: FIELDCREST CANNON REPORTS FOURTH-QUARTER AND FULL-YEAR LOSS
- Article from:
- PR Newswire
- Article date:
- February 1, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EDEN, N.C., Feb. 1 /PRNewswire/ -- Fieldcrest Cannon, Inc. (NYSE: FLD) today reported a loss from operations for the fourth quarter and full year, as comparable sales declined from year-ago levels.
For the quarter ended December 31, 1995, the company lost $15.6 million, or $1.88 per share, from operations. A non-recurring charge widened the net loss to $17.7 million, or $2.11 per share, compared with net income of $10.1 million, or $1.03 per share, in the fourth quarter of 1994.
Fourth-quarter sales totaled $284.6 million, down 4 percent from $297.4 million a year ago. "We were disappointed by even weaker sales in November and December than we had expected, ...
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