Cone records 1Q profit despite slowing sales
April 24, 2002,
Greensboro, NC — Climbing back on track and returning to profitability on the strength of operational improvements — and gaining despite continued top-line erosion — Cone Mills Corp. recorded a first-quarter profit of $1.4 million, compared with a year-before loss of $2.9 million.
But sales at the diversified textiles company continued to weaken, falling by 20.2 percent, to $105.8 million form $132.7 million last year, hard hit by weakness in its core denim business and persistent softness in its home fashions business.
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