Burke Mills, Inc. Reports Operating Results for First Quarter
19 May 2000
Burke Mills, Inc. Reports Operating Results for First Quarter
VALDESE, N.C., May 18 Burke Mills, Inc. of
Valdese, North Carolina, reports operating results for the first quarter ended
April 1, 2000.
Net sales for the thirteen weeks ending April 1, 2000 increased by
10.6% to $11,058,000 compared to $9,996,000 for the first quarter 1999.
The Company experienced a net loss of ($186,261) for the thirteen week
period compared to a net income of $106,000 for the same period in 1999.
This resulted in a net loss per share of ($.07) compared to net earnings of
$.04 in 1999.
Comparative Sales and Earnings
for the Three Months Ending April 1, 2000
(Amounts in thousands except per share data)
(Unaudited)
Thirteen Weeks
Ended
Apr. 1st Apr. 3rd
2000 1999
Net Sales $11,058 $9,996
Cost and Expenses:
Cost of Sales 10,361 8,719
Selling, General & Admin. Expenses 949 875
Factor's Charges 38 38
Operating Earnings (Loss) (290) 364
Interest & Other Expenses 178 139
Other Income 42 41
Income (loss) before provision for income
taxes and equity in net earnings of affiliate (426) 266
Provision (credit) for income taxes (165) 101
Income (loss) before equity in net earnings
of affiliates (261) 165
Equity in net earnings (loss) of affiliate 75 (59)
Net Income (Loss) (186) 106
Earnings (loss) per share ($.07) $.04
Weighted Avg. Common Shares Outstanding 2,741,168 2,741,168