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Article: Cone Mills Announces 1997 Results
- Article from:
- PR Newswire
- Article date:
- February 3, 1998
CopyrightCOPYRIGHT 1998 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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GREEENSBORO, N.C., Feb. 3 /PRNewswire/ -- Cone Mills Corporation (NYSE: COE) today announced 1997 sales of $716.9 million, as compared with 1996 sales of $745.9 million. Excluding the sales of business units included in the company's restructuring plan, sales were approximately the same year to year. International sales were $179.8 million, down 5.7% from 1996 amounts.
Cone Mills had a net loss for 1997 of $9.4 million, or $.47 per share after preferred dividends, as compared with a net loss of $2.2 million, or $.19 per share for the previous year. Each year included $5.2 million of pre- tax restructuring charges.
President and Chief Executive ...