FEDERAL CO <FFF> PREDICTS RECORD 1987 EARNINGS
Federal Co said its fiscal year ended
May 30 will be a record year with net income almost double that
of the previous fiscal year.
    The company's chairman R. Lee Taylor told security analysts
that Wall Street estimates of earnings per share in the range
of 4.25-4.50 dlrs are in line with what the company expects.
    The company said in fiscal 1986 it posted earnings of 2.24
dlrs a share on sales of 1.2 billion dlrs. It said in the first
nine months of this year it had earnings of 3.55 per share
against 1.66 dlrs per share in the same 1986 period.
    Federal Co said it also decided to change its name to Holly
Farms Corp.
    The company said this will identify it with its strongest
selling brand.
 reuter
