Armstrong reports higher Q4 income, sales

Home News Armstrong reports higher Q4 income, sales

Lancaster, Pa. — Armstrong World Industries reported fourth quarter net income of $10.8 million compared with $9.2 million in the fourth quartwer of 2012 ending Dec. 31.

Sales were up 7.9 percent to $661.3 million. Increases in both volumes and price within hardwood flooring were the primary drivers of the increase in sales, the company reported. Helping the bottom line in the fourth quarter was a sharp drop in income-tax expense, to $7.5 million from $20.5 million.

For the year, net profits fell 28.3 percent to $94.1 million, down from $131.3 million in 2012. Sales improved 3.8 percent to $2.72 billion.

The 2013 bottom line was hurt by higher selling, general and administrative expenses and higher interest expense.

Sales were negatively impacted by approximately $26 million due to the sale of the Patriot wood flooring distribution business in the third quarter of 2012, Armstrong said.

Must Read

Cali launches Vinyl Windandsea High Tide collection

San Diego—Cali has unveiled the CALI Vinyl Windansea High Tide collection, a lengthier upgrade to its classic Windansea series, now denoted as Low Tide. Designed to...

Emser Tile releases 2024 catalog

Los Angeles—Emser Tile has released its 2023/2024 catalog, available both in print and online. The newly released 450+ page resource offers an extensive and varied...

Latest innovations in subfloor solutions

Most professional installers would agree the ultimate success of any flooring installation largely depends on the condition of the subfloor that lies beneath. To that...

AHF announces exclusive partnership with Spartan Surfaces

Mountville, Pa.—AHF Products has entered into a strategic agreement with Spartan Surfaces, effective September 21, 2023. Spartan Surfaces will have exclusive distribution for the...

FCEF awarded federal grant for installation training

Dalton—The Floor Covering Education Foundation (FCEF) has been awarded a federal grant to fund installation training programs at several colleges in Alabama over the...

‘Tuesday Tips:’ 5 steps to prepare for severe weather

https://youtu.be/PKQ1PV2jLGE Dalton—The World Floor Covering Association (WFCA) released a new “Tuesday Tips” this week. In the series, WFCA experts presents short video tips for improving customer service...
Some text some message..
X