Company Promotes Nine Vice Presidentsi
l*Jsf »
Wf f
•
jjOur Are Named Senior Vice
jJ'^sidents; Division Officers Are
®Ved Up To Corporate Posts
G. 'William Moore, president of Field-
V Mills, Inc., has announced
Sales, Earnings Told, Dividend Declared
>Hot:
pro-
Q, -'ons of nine vice presidents of the
elected by the Board of Di-
^'■ors at their July meeting,
j ^Wrnoted from corporate vice presi-
to senior vice president are F. W.
Ij ®®h, president of the Fieldcrest Mar-
>hg Division; W. B. Guinan, president
^ ^he Karastan Marketing Division; R.
j' Harris, vice president-manufactur-
fi®’ and R. R. Roberts, vice president-
®nce and treasurer.
following division vice presidents
elected corporate vice presidents;
H. Hance, division vice president-
fes,
®3rch and engineering; A. L. Jack-
division
president-domestics
W Klein, division
president-rug manufacturing; H.
(Continued on Page Five)
Vj®^hfacturing; F.
Sales and earnings of Fieldcrest
Mills, Inc. in the second quarter were
$48,773,000 and $1,441,000 ($.41 per
share), compared with $48,500,000 and
$2,252,000 ($.64 per share), respectively,
in 1968.
For the six months ended June 30
sales reached $91,048,000 in 1969, up
1.4% from $89,818,000 last year. Com
mission finishing and converting sales
were lower in 1969, principally because
of the sale of the Carnac business in
March 1968. Sales of household textile
products were about 9% higher this
year than in 1968, principally as a result
of a substantial increase in sales of tuft
ed carpeting.
The operating results were announced
by G. William Moore, Fieldcrest presi
dent.
“As was true in the first quarter.
earnings in the second quarter were
adversely affected by industry-wide re
ductions in sheeting prices, expenses
connected with equipment additions and
conversions, and higher labor and in
terest costs,” Mr. Moore said. For the
six months ended June 30, earnings
were $2,418,000 ($.69 per share) in 1969
and $4,048,000 ($1.15 per share) in 1968.
“The Company’s competitive position
continues good, and unfilled orders are
slightly ahead of the record level of a
year ago. While there has been a recent
slow-down in rug and carpeting busi
ness, we are hopeful that improvements
will occur in the outlook for housing
construction and retail trade,” Mr.
Moore said.
“We are well equipped, with balanced
inventories and leadership in product
(Continued on Page Four)