Article: Rocky Mount cuts 4th-quarter loss. (Rocky Mount Undergarment Company Inc.)

Article from:
WWD
Article date:
April 19, 1990
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ROCKY MOUNT CUTS 4TH-QUARTER LOSS

ROCKY MOUNT, N.C. (FNS) -- Rocky Mount Undergarment Co., Inc., cut its loss in the fourth quarter, and a one-time gain on the sale of the company's men's underwear division returned it to profitability for the year.

In the quarter ended Dec. 31, the company lost $602,000, compared with a year-ago loss of $810,000. Results in the latest quarter include a $152,000 charge from the reversal of a tax-loss carryforward. There was a $51,000 reversal in the year-ago quarter.

Sales fell 68.2 percent to $3,713,000 from $11,666,000, but year-ago figures include sales from the men's underwear unit, which was sold in June, ...

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