Interface reports higher income, sales

Home News Interface reports higher income, sales

InterfaceFlorAtlanta—Interface recently reported second quarter net income of $11.0 million, or $0.17 per share, compared with $10.3 million, or $0.16 per share, a year ago.
Sales for the quarter were up 6.1% to $243.5 million, compared with $229.5 million in the second quarter of 2012.

“We made tremendous strides improving our performance during the second quarter, reflected by our increased sales, gross margin and earnings,” said CEO Daniel Hendrix. “We’re very pleased with our surge in the Americas business, with sales up 12% year-over-year and well ahead of the overall commercial market.”

The Americas business had sales increase 11.6% year-over-year and hit an all-time quarterly record within the U.S. commercial business.
The growth occurred across nearly all market segments, Interface said, led by the corporate office segment (up 11%) and the non-office segments of hospitality (up 63%), government (up 16%) and healthcare (up 13%).

Flor consumer business sales were up 65% over last year, due primarily to the larger Flor store footprint and increased web traffic. “In short, these results show continued modest sequential improvements on the top-line and earnings should follow as some spending has occurred in front of sales,” said analyst Stifel Nicolaus. “Europe remains a challenge but still represents the greatest margin leverage opportunity.”

 

Must Read

Louisville Tile’s CEO to present at Coverings 2023

Orlando, Fla.—Louisville Tile’s chief executive officer, Matthew Saltzman, will be presenting at Coverings 2023, held here, on April 20. Coverings is the preeminent event...

Robert Varden, IUPAT launch intensive certification program

Rockwall, Texas—Flooring installation veteran, Robert Varden, and Val Chestohin, lead floor covering instructor DC 16 FTI Northern California and Nevada of the International Union...

Exclusive: Mohawk kicks off partnership with Rhinory

Texas—Mohawk Flooring is charging toward a better tomorrow by kicking off its partnership with Rhinory, a winery and rhino sanctuary based here. The partnership...

A ‘Showroom Pricing’ solution

Before starting her own software company, Kristen Stensby worked in her family’s flooring store in St. Louis as a commission-based RSA in charge of...

Flooring software technology providers up the ante at Surfaces

Las Vegas—The 2023 International Surface Event highlighted the vigor with which the flooring industry is facing today. Flooring software technology providers were among those...

Shaw resilient eligible for recycling through re[TURN] program

Ringgold, Ga.—Shaw Industries announces Shaw Plant RP, located here, resilient products (both LVT and SPC) are now recyclable through the re Reclamation Program. As...
Some text some message..
X