i
Adams Millis AmCO NcWS
Ciorr.i
Vol. 41, No. 1
April, 1985
Housekeeping Award
Adams-Millis Plant 3 in
Kernersville has won the Presi
dent’s Housekeeping Award for
the last half of 1984 according to
R- M. Bundy Jr., President and
Chief Operating Officer.
Second place in the competition
went to Plant 11 in Mount Airy
while Plant 2 in Mount Airy earn
ed third place.
“On behalf of all the manage
ment of Adams-Millis Corpora
tion, I extend my congratulations
to the management, supervision,
and employees of this fine plant
for being selected as the winner
of this award,” Bundy said in an
nouncing Plant 3 as the first place
recipient.
The winners were selected on
the basis of results of announced
inspections conducted during the
last six months of 1984.
“Congratulations to all these
plants for their contribution in
Housekeeping Program,”
our
Bundy added.
Dividend
Adams-Millis Corporation
Board of Directors declared a
regular quarterly dividend of
eight cents per share payable
March 8, 1985 to shareholders of
record February 20, 1985.
Checking
Quality
Quality always is of
foremost importance in
production of con
sumer goods. Kay Mac
Donald is one of the
people at Adams-Millis
who keeps a constant
vigil on the quality of
the company’s pro
ducts. At right she
checks fibers in some
women’s hosiery.
Periodic checks also
are made of products
made by other com
panies, At left, Corrine
Rogers checks fit of
sheer hosiery.
A-M Becomes Exclusive Licensee For Hanes-Sox
In a joint statement, James H.
Millis, Sr., Chairman, Robert M.
Bundy, Jr,, President, of Adams-
Millis Corporation, and Jack
Earnings
James H. Millis, Sr., Chariman and Chief Executive Of
ficer of Adams-Millis Corporation, reported that earnings
from continuing operations for the year ended December 30,
1984, increased 67 percent to a record $5,741,000 ($2.50 per
share) as compared to $3,434,000 ($1.50 per share) the
previous year.
Earnings from continuing operations for the fourth quarter
of 1984 increased $95 percent to $1,819,000 ($.79 per share)
from $617,000 ($.27 per share for the 1983 fourth quarter.
The 1984 net earnings of $5,741,000 ($2.50 per share) as com
pared to $4,811,000 ($2.10 per share) in 1983 which included a
gain from the discontinue TexElastic Division of $1,377,000
($.60 per share).
Millis stated that the 34 percent increase in net sales from
$82,795,000 in 1983 to $111,223,000 for 1984 was due primarily to
sales generated by Silver Knit. Net Sales for the fourth
quarter of 1984 were $28,739,000 as compared to $21,806,000 for
1983.
Millis went on to say that the increase in sales and earnings
for Adams-Millis resulted from the addition of Silver Knit In
dustries, Inc. acquired in January 1984 and from new brand
ed hosiery lines.
Ward, President, Hanes
Knitwear, a division of Con
solidated Foods Corporation, an
nounced that effective January 1,
1985, Adams-Millis Corporation
became a licensee of Hanes for
socks.
Mr. Millis stated that the ar
rangement is part of the com
pany’s continuing plan to in
crease sales and profits through
greater penetration within the
hosiery industry.
As a part of the licensing ar
rangement, Adams-Millis Cor
poration has purchased the
Hanes interest in Hanes-Millis
Sales Corporation, the previous
licensee of the Hanes Label for
socks.
Adams-Millis will operate
Hanes-Sox, maintaining the cur
rent personnel, policies and chan
nels of distribution for the Hanes
Red Label socks with Robert O.
Haas continuing as president of
the company.
A profile of the new Hanes-Sox
Co. will appear in a later issue of
Amco News,