Dixie Sales Up 8.9%, Earnings Down

Chattanooga, TN, Feb. 20, 2013 -- The Dixie Group reported a fourth quarter net loss of $415,000 or $0.03 per share, compared to a loss a year ago of $361,000 or $0.03 per share.

However, the company reported fourth quarter sales of sales of $71.1 million, ahead of last year's fourth quarter sales of $65.3 million.

“The year of 2012 was a year of changes," said CEO Daniel Frierson.

Frierson said the company should be helped this year from increased home building and an improving commercial market.

“Our fourth quarter sales were up 8.9% or approximately three times industry growth for the period," Frierson said.

"Of particular note, we had growth in both our residential and commercial product categories that exceeded industry growth. We had particularly strong sales in our wool and rug product segments. Our fourth quarter profitability was negatively impacted due to higher investments in new products, and acquisition and integration expenses associated with our Colormaster dyeing facility; however, we believe that these investments will continue our above-industry average sales growth into 2013."

For the year Dixie said its residential sales grew 4.3% while industry results were slightly positive. However, commercial sales were down, compared to single-digit growth in the industry.


Other Archived Articles

Pergo Gets Favorable Patent Ruling in Sweden   Full Article
Dallas, May 8, 2013 –- The Swedish Court of Appeals has overturned a ruling that had invalidated a Pergo patent related to so-called fold-down flooring planks.

Mattex To Build Manufacturing Facility in Georgia   Full Article
Atlanta, GA, May 8, 2013 -- Mattex, a Dubai and Saudi Arabian carpet backings producer, will expand its operations in North Georgia by building an extrusion manufacturing plant in Murray County.

Centiva Awards School Innovation Grant   Full Article
Florence, AL, May 8, 2013 -- Resilient maker Centiva said that Delores T. Aaron Elementary in New Orleans is the recipient of its Centiva Green School Innovation Grant for the 2013-2014 school year.

USFContract Named Fuse Alliance Supplier   Full Article
Aurora, CO, May 8, 2013 -- The Fuse Alliance said that USFContract is its newest preferred supplier.

Former BPS CEO Minite Gets New Job   Full Article
Santa Fe Springs, CA, May 8, 2013 -- Former Bentley Prince Street CEO has been named president and general manager of a new company, Paralleltek.

Shamrock Plank Flooring To Add Manufacturing   Full Article
Memphis, TN, May 8, 2013 -- Shamrock Plank Flooring, a division of J.T. Shannon Lumber, is expanding its presence in North Mississippi by adding new manufacturing operations in a 62,900 square-foot facility.

Job Postings Decline in March   Full Article
Washington, DC, May 8, 2013 -- Employers posted fewer job openings in March compared with February, according to the Labor Department.

Starnet Honors Design Awards Winners   Full Article
Darien, CT, May 8, 2013 -- — Starnet Worldwide Commercial Flooring recently honored 14 members in the 13th Annual Starnet Design Awards.

Consolidated Carpet Wins Starnet Awards   Full Article
New York, NY, May 7, 2013 -– Consolidated Carpet said it won two Starnet Design Awards at the 2013 annual awards event.

Internet Sales Tax Bill Goes to Conservative House   Full Article
Washington, DC, May 7, 2013 -- Although the Senate voted overwhelmingly to pass a bill to empower states to collect sales taxes from Internet purchases, the bill faces a much more uncertain future in the House.

Improving Housing Markets List Ticks Down   Full Article
Washington, DC, May 7, 2013 -- The number of U.S. housing markets showing sustained improvement fell slightly to 258 in May from 273 in April, according to the National Association of Home Builders/First American Improving Markets Index.

Mannington Files Appeal in Home Legend Dispute   Full Article
Rome, GA, May 6, 2013 -- Mannington Mills in April was handed a setback in a copyright-infringement dispute with laminate maker Home Legend over a line of maple-look laminate.

GSA Committee Recommends LEED as Measure   Full Article
Washington, DC, May 6, 2013 -- The Green Building Advisory Committee has officially recommended that the LEED green building certification system be used for all GSA buildings as the best measure of building efficiency.

Mohawk's Wright Named Chairman of Two Groups   Full Article
Amelia Island, FL, May 6, 2013 -- The Georgia Association of Manufacturers and the Manufacturers Education Foundation each elected new officers and board members at the 113th Annual Meeting of GAM and the 70th Annual Meeting of MEF.

First-Time Delinquencies Lowest in Six Years   Full Article
New York, NY, May 6, 2013 -- First-time delinquent home loans fell to 0.84% of the 50.2 million mortgages in March, according to Lender Processing Services.

Services Sector Expands at Slower Pace in April   Full Article
Washington, DC, May 3, 2013 -- The services sector of the economy expanded at a slower pace in April than March, according to the Institute for Supply Management.

Factory Orders Decline More Than Expected   Full Article
Washington, DC, May 3, 2013 -- Factory orders fell 4% in March, the Commerce Department reported Friday.

Mohawk Completes Spano Acquisition   Full Article
Calhoun, GA, May 3, 2013 -- Mohawk Industries said it has completed the acquisition of Spano Group, a Belgian panel board manufacturer.

Number of Jobs Rises, Unemployment Rate Falls   Full Article
Washington, DC, May 3, 2013 -- Employers created 165,000 jobs in April and the unemployment rate fell to 7.5% from 7.6%, according to the Labor Department.

Tile Shop Holdings Reports Higher Sales   Full Article
Minneapolis, MN, May 3, 2013 -- Tile Shop Holdings reported a net loss of $44.7 million in the first quarter, compared to net income a year ago of $10.1 million.