Daily News Record, April 10th, 1985
NEW YORK (FNS) -- Crompton & Knowles Corp. said it expects first quarter earnings to drop between 34 and 37 per cent to 33 to 35 cents a share, compared with a year-ago quarter net of $1,812,000, or 53 cents a share, because of the strong dollar and heavy imports of apparel.
First quarter sales "may be slightly lower" than year-ago quarter sales of $59,900,000.
commenting on lower first quarter earnings, Frank J. Graziano, chairman of Crompton & Knowles, told the company's annual meeting, "It's going to be a tough year--for the company and the industry as a whole--but if anybody succeeds i...
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