JPS Industries Reports Significantly Improved Net Income for Second Quarter

30 May 2000

JPS Industries, Inc. announced results for the second quarter ended April 29, 2000. Net income rose to $1.6 million, compared with a net loss of $26.3 million in the second quarter of fiscal 1999. Commenting on the results, JPS Chairman, President and Chief Executive Officer Michael L. Fulbright said, "We are very pleased with these results and gratified to deliver solid improvement for the third consecutive quarter. While each of our three divisions remain in highly competitive and challenging markets, their performance through six months give us confidence that we will continue to deliver against our plan and show improving quarterly results over the remaining two quarters of fiscal 2000." JPS Industries, Inc. is a major U.S. manufacturer of extruded urethanes, polypropylenes and mechanically formed glass substrates for specialty industrial applications, and apparel fabrics. JPS specialty industrial products are used in a wide range of applications, including: commercial and institutional roofing; reservoir and landfill liners and covers; printed circuit boards; advanced composite materials; tarpaulins; awnings; tile backings; security glazing; athletic shoes; and medical, automotive and industrial components.

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