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Article: Shelby Williams reports strong second quarter, sharp backlog gains; company raises 1987 sales forecast to $160 million. (Shelby Williams Industries Inc.)
- Article from:
- PR Newswire
- Article date:
- July 14, 1987
CopyrightCOPYRIGHT 1987 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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SHELBY WILLIAMS REPORTS STRONG SECOND QUARTER, SHARP BACKLOG
GAINS; COMPANY RAISES 1987 SALES FORECAST TO $160 MILLION
CHICAGO, July 14 /PRNewswire/ -- Shelby Williams Industries, Inc. (NYSE: SY) today reported impoved sales and earnings for its second quarter and first half ended June 30, 1987.
Based on those results and on sharply higher backlogs, the company raised its 1987 sales forecast to $160 million, vs. an earlier forecast of $155 million. In 1986, Shelby Williams sales were $130.5 million.
Second quarter net income increased 9 percent to $2,273,000, or 22 cents per share, from $2,082,000, or 20 cents per share, a year ...