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Article: Fieldcrest Cannon sees 3Q operating results below expectation.
- Article from:
- Business Wire
- Article date:
- September 18, 1996
CopyrightCOPYRIGHT 1996 Business Wire. 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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KANNAPOLIS, N.C.--(BUSINESS WIRE)--Sept. 18, 1996--Fieldcrest Cannon Inc. (NYSE:FLD) today announced it will report lower-than-expected operating results for the third quarter, ending Sept. 30, 1996, as a result of lower sales and margins and expenses associated with the previously disclosed closing of two towel facilities.
Before non-recurring charges, third-quarter financial results could approximate break-even or a loss up to approximately 25 cents a share compared with net income of $4.7 million, or 40 cents a share, in the third quarter of 1995.
"We are disappointed that third-quarter operating results will be below expectations," said James M. ...
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