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Cone Posts First Loss Since 2001

Cone Posts First Loss Since 2001Greensboro-based Cone Mills Corp. reported a second-quarter 2003 net loss of $3.6 million, or 18 cents per share the companys first loss since 2001. The figure includes special charges of $3.1 million. Net sales were 23.4 percent lower than year-earlier sales.Despite these disappointing results, Chairman and CEO John L. Bakane noted some positive signs. Our associates have done an outstanding job in the areas of product development, customer service, quality improvement, efficiency and cost control. We believe we have continued to gain denim market share in our region, he said, adding that the companys Parras Cone operation in Mexico has continued to achieve outstanding results. [W]e expect Parras Cone to be debt-free by early 2004, he said. September 2003