TULTEX FY NET FALLS 80 PER CENT DESPITE LOGO, DISCUS GAINS.
The sharp fall-off is largely attributable to a year-end,after-tax charge of $6.8 million for debt refinancing and an accountingmethod change related to advertising costs. Income for the yearended Dec. 30 was $1,802,000 against $8,950,000. Annual revenuesrose 3.4 per cent to $585,289,000 from $565,433,000. The companysaid the yearly results compared favorably with 1994 comps inspite of high raw material costs, the MLB strike and weak consumerspending on apparel ... Log in to view full article.
