JPS Industries registers loss

GREENVILLE, S.C. (Dec. 5)—JPS Industries Inc. had a net loss of $45.9 million on net sales of $48 million for the fourth quarter ended Oct. 28. In the like period last year, JPS has net income of $1.5 million on sales of $41.7 million. The company attributed the earnings drop in the 2000 quarter to a $47.4 million loss on the sale of the firm´s Apparel Division in November. JPS had a loss of $41.2 million on sales of $168 million for fiscal 2000, compared to a loss of $21.4 million and sales of $156.9 million last fiscal year. Excluding the effects of the apparel division loss, JPS registered a threefold increase in earnings in the quarter, to $1.97 million, and more than fivefold for the year, to $6.29 million. The sale of the apparel division completes JPS´ exit from the textile business and positions it to concentrate on its specialty-engineered products operations, the company said.