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Cone Mills affirms 3Q earnings guidance

Greensboro, NC — In light of recent uncertainty in capital markets and the large number of negative earnings pre-announcements, Cone Mills Corp. has decided to affirm its earnings guidance for third quarter 2002 of $0.08 to $0.10 per share.

The company is also affirming its annual 2002 earnings estimates of $0.20 to $0.25 per share and $50 million of EBITDA, or EBITDA of $56 to $59 million including Cone's pro rata share of Parras Cone.