PENN TRAFFIC HAS RECORD SALES AND OPERATING NET

SYRACUSE, N.Y. -- Penn Traffic Co. here said it enjoyed record sales, cash flow and operating income for the third quarter ended Oct. 29. The company reported net income of $4.7 million for the 13-week quarter and $5.1 million for the 39 weeks, compared with losses in both periods a year ago. Earnings for the quarter included two onetime charges: a reduction in income-tax expense of $1 million, or

SYRACUSE, N.Y. -- Penn Traffic Co. here said it enjoyed record sales, cash flow and operating income for the third quarter ended Oct. 29. The company reported net income of $4.7 million for the 13-week quarter and $5.1 million for the 39 weeks, compared with losses in both periods a year ago. Earnings for the quarter included two onetime charges: a reduction in income-tax expense of $1 million, or 9 cents per share, relating to a reduction in the Pennsylvania statutory tax rate, and an ext

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