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Article: Pickup in shirtings business helps Dan River boost earnings; fourth-quarter sales of apparel fabrics rose 6.3% to $37.5% million. (in 1996)
- Article from:
- Daily News Record
- Article date:
- March 14, 1997
- Author:
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. 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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NEW YORK -- Dan River Inc., aided by improvement in its shirting-fabrics business, reported profits jumped 59 percent in the fourth quarter before a year-ago restructuring charge.
In the quarter ended Dec. 28, earnings rose to $3.5 million from $2.2 million before charges, according to its just-released 10K.
After the pretax charge of $9 million, Dan River logged a net loss of $3.2 million. The charge covered costs to discontinue a line of apparel fabrics, move the New York office and write-down obsolete fixed assets as part of a modernization program.
Sales rose 5.9 percent to $107.5 million from $101.6 million.
Sales of apparel fabrics, which ...