Cone Mills improves 3Q earnings
October 22, 2002,
Greensboro, NC — Despite weakened sales in its home furnishings segments, Cone Mills Corp. reported net sales of $111.7 million and a net income of $3.8 million, or $0.11 per share, after preferred dividends for the three-month period ending Sept. 29, a significant improvement over last year's third quarter.
For the corresponding quarter of fiscal 2001, Cone reported net sales of $107 million and a net loss of $4.6 million, or $0.22 per share, after preferred dividends.
Third quarter 2002 sales for the decorative fabrics segment were $5.7 million, down 47.3 percent from the same quarter for 2001.