Article: Rocky Mount results. (Rocky Mount Undergarment Co. Inc.)

ROCKY MOUNT RESULTS

ROCKY MOUNT, N.C. (FNS) -- Rocky Mount Undergarment Co., Inc., went into the red in the second quarter and six months before special tax credits and a gain on the sale of its Men's Underwear division. However, after the extraordinary items, the company showed a substantial increase in profits.

For the quarter ended July 2, Rocky Mount reported a $107,000 operating loss, compared with year-ago operating profit of $277,000. After a $1,835,000 gain on the sale of the Men's division and a $656,000 credit from a tax loss carryforward, total net income climbed to $1,728,000, or 51 cents a share. In the year-ago quarter, a $122,000 litigation charge and a ...

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