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Article: Rocky Mount results. (Rocky Mount Undergarment Co. Inc.)
- Article from:
- Daily News Record
- Article date:
- August 17, 1989
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Copyright informationCOPYRIGHT 1989 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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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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