PAYLESS CASHWAYS <PCI> SEES BETTER FIRST QTR Payless Cashways Inc chairman David Stanley told analysts the company's first quarter results to be reported March 17 will be better than the seven cts per share reported in the year ago quarter. "It was not a wonderful sales quarter, but it only represents 14 pct of the year's total results," Stanley said. Stanley also said that 1987 full year sales will be in excess of 1.8 billion dlrs as compared to the 1.5 billion dlrs reported in 1986. He also said that analysts' estimates of 1.55 dlr per shr for 1987 "are not crazy." Payless reported net income of 1.22 dlr per share in 1986. "The economy may not get a lot better, but we expect our advantages in the lumber industry and cost cutting measures to keep us competitive," Larry Kunz, chief financial officer, said. The company acquired Knox Lumber Co for about 24.3 mln dlrs in October 1986. Stanley said the company's stronger-than-optimal balance sheet will enable it to make further acquisitions but no negotiations are going on at the current time. He said some benefits of a new management information system will be felt in 1987 and more substantially in 1988. REUTER...^M