UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. __2 _)*
Guilford Mills, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
401794102
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13G
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CUSIP No. 401794102 Page 2 of 6 Pages
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Investment Counselors of Maryland, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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5 SOLE VOTING POWER
1,065,645
NUMBER OF ------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY ------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,231,245
PERSON ------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,231,245
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.79%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 401794102 Page 3 of 6 Pages
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Item 1(a) Name of Issuer:
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Guilford Mills, Inc.
(b) Address of Issuer's Principal Executive Offices:
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4925 W. Market Street
Greensboro, North Carolina 27407
Item 2(a): Name of Person Filing:
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Investment Counselors of Maryland, Inc.
(b) Address of Principal Business Office or, if none, Residence:
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803 Cathedral Street
Baltimore, Maryland 21201-5297
(c) Citizenship:
-----------
Maryland
(d) Title of Class of Securities:
----------------------------
Common Stock
(e) CUSIP Number:
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401794102
Item 3: Capacity in Which Person is Filing:
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[x] Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940.
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CUSIP No. 401794102 Page 4 of 6 Pages
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Item 4: Ownership:
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As of December 31, 1997:
(a) Amount Beneficially Owned:
1,231,245
(b) Percent of class:
4.79%
(c) Number of shares to which such person has:
(i) Sole power to vote or to direct the vote:
1,065,645
(ii) Shared power to vote or to direct the vote:
None
(iii) Sole power to dispose or to direct the disposition of:
1,231,245
(iv) Shared power to dispose or to direct the disposition of:
None
Item 5: Ownership of Five Percent or Less of Class:
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If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceasd to be the beneficial
owner of more than five ercent of the class of securities, check the
following. [X]
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CUSIP No. 401794102 Page 5 of 6 Pages
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Item 6: Ownership of More than Five Percent on Behalf of Another Person:
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All of the shares of Common Stock set forth in Item 4 are
owned by various investment advisory clients of Investment Counselors
of Maryland, Inc., which is deemed to be a beneficial owner of those
shares pursuant to Rule 13d-3 under the Securities Exchange Act of
1934, due to its discretionary power to make investment decisions
over such shares for its clients and its ability to vote such shares.
In all cases, persons other than Investment Counselors of Maryland,
Inc. have the right to receive, or the power to direct the receipt
of, dividends from, or the proceeds from the sale of the shares. No
individual client holds more than five percent of the class.
Item 7: Identification and Classification of the Subsidiary Which Acquired
- ------ ---------------------------------------------------------------------
the Security Being Reported on By the Parent Holding Company:
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Not applicable.
Item 8: Identification and Classification of Members of the Group:
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Not applicable.
Item 9: Notice of Dissolution of Group:
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Not applicable.
<PAGE>
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CUSIP No. 401794102 Page 6 of 6 Pages
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Item 10: Certification:
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By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of
and do not have the effect of changing or influencing the control of
the issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purposes or
effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
INVESTMENT COUNSELORS OF
MARYLAND, INC.
By: /s/ Robert D. McDorman, Jr.
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Robert D. McDorman, Jr.
Principal
Date: March 19, 1998
