Interface Reports Higher Income, Sales in Quarter

Atlanta, GA, Feb. 19, 2015 -- Interface, Inc. reported fourth quarter net income of $15.8 million, or $0.24 per share, compared to net income of $13.0 million, or $0.20 per share, a year ago.

Sales for the quarter were $272.1 million, an increase of 8.1% from sales of $251.7 million in the fourth quarter last year.

"Sales surged upward in both the Americas and Asia-Pacific, and particularly in two of our largest geographic markets – the U.S. and Australia," said CEO Daniel Hendrix.

Fourth quarter sales in Interface's Americas business increased 11.8% year over year, with growth in the corporate office market (up 10%) as well as non-office segments (up 13%).

Most of the non-office growth was in the hospitality segment, Interface said.

Sales for the full year were $1 billion, compared with $960.0 million in 2013, an increase of 4.6%.

Net income for the year was $24.8 million, or $0.37 per share.

"I'm very pleased with the trajectory of our business as we begin 2015," Hendrix said.

Analyst John Baugh of Stifel Nicolaus described the quarter as "solid."