Dixie Group Q1 Revenue up 20%
Chattanooga, Tennessee, May 1, 2013—For
the first quarter of 2013, The Dixie Group had sales of $75,440,000 and income
from continuing operations of $651,000, or $0.05 per diluted share, compared
with sales of $62,851,000 and a loss from continuing operations of $104,000, or
$0.01 per diluted share for the first quarter of 2012. The sales increase as
compared to the year ago period was 20%.
Commenting on the results, Daniel K.
Frierson, chairman and chief executive officer, said, "The first quarter
typically is the slowest and most difficult quarter for our business. However,
Dixie had a year-over-year sales improvement of 20% with sales growth in all
areas of the business. Our sales growth in the residential business was 21%
higher than the same period in the prior year with notable growth in our mass
merchant area. We believe that the residential market, in contrast, grew in the
low single digits. Our commercial business increased 13% with particularly
strong growth in our modular carpet tile area. This increase was in comparison,
we believe, to low single digit growth in the commercial market.”
The company's loss from discontinued
operations was $15,000, or $0.00 per diluted share, for the first quarter of
2013, compared with a loss from discontinued operations of $77,000, or $0.00
per diluted share, for the prior year. Including discontinued operations, the company
reported a net income of $636,000, or $0.05 per diluted share, for the first
quarter of 2013, compared with a net loss of $181,000, or $0.01 per diluted
share, for the year-earlier period.