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  • Ingles Markets reported net income of $14.7 million for the year ended September 28, 2002, compared with $17.9 million in net income for the previous year. The company said that income from operations increased 4.9 percent to $70.5 million for fiscal year 2002 compared with $67.2 million for fiscal year 2001, but that increased interest expense of $8.6 million had a negative effect on earnings. Annual net sales increased 0.4 percent to $1.960 billion, compared to sales of $1.953 billion for fiscal year 2001. the company said it plans to open four new stores next year.

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