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

Stats 2021: SPC continues to lead resilient flooring

The word “unprecedented” has aptly described the unexpected growth the flooring industry experienced in 2021 despite supply chain challenges, rising costs and the ongoing...

Irina Slonim joins Galleher as corporate controller

Santa Fe Springs, Calif.—Galleher, LLC, the largest flooring distributor on the west coast and third largest in the U.S., has hired Irina Slonim as...

Armstrong Flooring considering proposals

(This story has recently been updated to include new information released by the company.) As Armstrong Flooring’s Chapter 11 bankruptcy sale nears a resolution, Michel...

Crossville promotes two sales leaders

Crossville, Tenn.— Crossville, Inc. has announced two promotions within its sales organization. Tom Kettering and Anthony Coggins are both expanding their roles as directors...

Housing: Builder market hopes to weather the storm

In 2021, the builder market held up well against the headwinds facing the U.S. economy. But construction material and labor shortages, housing affordability and...

Virginia Tile relocates its showroom

Wood Dale, Ill.— Virginia Tile moved its showroom and warehouse from Wood Dale, Ill. to Elk Grove Village, Ill. Located only a few short...
Some text some message..