Dixie Group Swings to Profit on Surging Sales

Chattanooga, TN, Feb. 19, 2014 -- The Dixie Group reported fourth quarter sales of $95.8 million, up from $71.1 milion a year ago.

Income from continuing operations for the quarter was $1.6 million as compared with a loss of $413,000 in the same period in 2012.

For the year, the company had sales of $345 million and income from continuing operations of $5.4 million, compared with sales of $266.4 million and loss from continuing operations of $653,000.

Our sales for the quarter were up 34.7% as compared to sales in the same quarter in the prior year, while the market was only up in the mid-single digits," said CEO Daniel Frierson.

"Our residential product sales for the fourth quarter were up 30.5% on a year over year basis, while the market was only up in the mid-single digits for the comparable period.

"Our commercial product sales were up 45.5% for the fourth quarter on a year-over-year comparison, while the commercial market was only up in the mid-single digits basis. Our growth was strongest at the beginning of the quarter; however, our December sales were still up over 18% from the previous year’s December period.

“For the entire year of 2013, our sales increase was 29.5% compared to 2012. Our residential product sales were up 28.5% for the year compared to 2012, while the industry, we estimate, was up in the mid-single digit range.."

Dixie said that since the downturn sales have grown 68%, while the industry grew only around 12%. During that time, residential sales have grown 88% while the industry is up less than 10%, Dixie said.

Commercially, Dixie says it grew 28%, while the industry was up a little over 15%.



Other Archived Articles

Domotex Asia Set for March 24-26   Full Article
Shanghai, China, Sept. 12, 2014 -- Domotex Asia/Chinafloor will be held March 24-26 in Shanghai.

Retail Sales Increase Broadly in August   Full Article
Washington, DC, Sept. 12, 2014 -- U.S. retail sales rose 0.6% in August, as consumer bought automobiles and a variety of other goods, according to the Commerce Department.

Consumer Sentiment Highest in More Than a Year   Full Article
Ann Arbor, MI, Sept. 12, 2014 -- U.S. consumer sentiment rose in September to its highest level in more than a year, according to the Thomson Reuters/University of Michigan index.

Greenberg Fund Awards Two Scholarships   Full Article
Manchester, NH, Sept. 12, 2014 -- CCA Global Partners has announced the recipients of two $5,000 scholarships through the Alan Greenberg Scholarship Fund.

Dover Rug & Home Opens Boston Showroom   Full Article
Boston, MA, Sept. 12, 2014 -- Dover Rug & Home has opened a second location in Boston in the Back Bay.

Armstrong Headquarters Gets LEED Recertification   Full Article
Lancaster, PA, Sept. 11, 2014 -- Armstrong World Industries said its corporate headquarters building has been awarded LEED Platinum recertification from the U.S. Green Building Council.

Shaw Contract Names Winners of Design Contest   Full Article
Cartersville, GA, Sept. 11, 2014 -- Shaw Contract Group announced the winners of its annual Design is… competition.

Initial Unemployment Claims Rise Last week   Full Article
Washington, DC, Sept. 11, 2014 -- Initial claims for unemployment benefits rose to 315,000 last week, up from the previous week's revised total of 304,000, according to the Labor Department.

Dal-Tile Holding Groundbreaking for Tennessee Plant   Full Article
Dickson, TN, Sept. 11, 2014 -- Dal-Tile is scheduled to hold an invitation-only groundbreaking ceremony this afternoon for its new $180 million plant in Dickson County, according to the Tennessean newspaper.

Foreclosures Edge Higher in August   Full Article
Irvine, CA, Sept. 11, 2014 -- Foreclosures rose in August the first time in nearly four years, according to tracking firm RealtyTrac.

CFI Presents Awards at Annual Meeting   Full Article
Kansas City, MO, Sept. 11, 2014 -- The Certified Floorcovering Installers recently presented awards at its annual convention.

Tandus Centiva's Ethos Certified Cradle to Cradle   Full Article
Dalton, GA, Sept. 11, 2014 -- Tandus Centiva said it has been Cradle to Cradle Certified Silver for its Ethos modular soft surface products by the Cradle to Cradle Products Innovation Institute.

Wholesale Inventories, Sales Rise in July   Full Article
Washington, DC, Sept. 10, 2014 -- Wholesale inventories ticked up in July by the smallest amount in a year, according to the Commerce Department.

NAHB Praises Legislation to Limit EPA, Army Corps   Full Article
Washington, DC, Sept. 10, 2014 -- The National Association of Home Builders has commended legislation that would limit the authority of the EPA and the U.S. Army Corps of Engineers over "waters of the U.S."

Mortgage Applications Decline Last Week   Full Article
Washington, DC, Sept. 10, 2014 -- Mortgage application volume fell last week as interest rates rose for the first time in four weeks, according to the Mortgage Bankers Association.

Bona Opens Training Center in Dallas   Full Article
Aurora, CO, Sept. 10, 2014 -- Bona US said it has opened a new regional training center in Dallas.

Job Openings Near 13-Year High   Full Article
Washington, DC, Sept. 9, 2014 -- The number of U.S. job openings remained near the highest level in 13 years in July, according to the Labor Deparment in its Job Openings and Labor Turnover survey.

Oriental Weavers Expands Presence at High Point   Full Article
Dalton, GA, Sept. 9, 2014 -- Oriental Weavers said it will open a new showroom and double the size of its High Point presence at the upcoming October market.

Armstrong Adds Installation System to Natural Creations   Full Article
Lancaster, PA, Sept. 9, 2014 -- Armstrong Commercial Flooring has added its luxury vinyl tile installation system called I-Set to its Natural Creations collection.

Mohawk Study Looks at Carpet in Hospital Setting   Full Article
Calhoun, GA, Sept. 9, 2014 -- A Mohawk-funded study shows that carpet tile relieves environmental stressors in hospital settings more effectively than terrazzo and rubber flooring.