Interface Swings to Loss in Third Quarter
Atlanta, GA, Oct. 25, 2012 -- Carpet tile specialist Interface, Inc. reported a third quarter net loss of $5.8 million or $0.09 per share, compared to net income of $12.2 million or $0.19 per share a year ago.
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"The third quarter was another period of solid operating performance overall, although financial performance was negatively impacted by the previously-announced sale of our Bentley Prince Street business and by the fire at our plant in Australia," said CEO Daniel T. Hendrix.
"Margins have expanded, the U.S. had a record sales quarter, and we are beginning to see stability in markets that have been uneven this year."
Interface reported sales of $242.9 million, compared with sales of $248.7 million in the third quarter of 2011, a decrease of 2.4%.
Fluctuations in currency exchange rates negatively impacted 2012 third quarter sales by approximately 2%, the company said.
Sales for the first nine months sales were $682.4 million, compared with $708.6 million for the same period a year ago, a decrease of 3.7%. Fluctuations in currency exchange rates affected sales by approximately 2%.