J.P. Stevens & Co. posted second-quarter income of $11 million, a 14% gain from the 1986 quarter. Sales, however, declined--to $394.5 million from $451.6 million. The company noted that the 1986 sales included $64.3 million from the finished apparel fabrics divisions, which were divested during that year. "Overall, textile market conditions are unusually strong and consumer confidence remains high," he said. "After adjusting for the divested finished apparel fabrics divisions, incoming orders and unfilled orders are significantly above last year's levels. . . . Prospects for all of fiscal year 1987 are favorable."