Soaring Sales Swing Dixie Group to Profit
Chattanooga, TN, July 31, 2013 -- The Dixie Group reported second quarter net income of $1,645,000, or $0.13 per share, compared to a loss of $433,000 a year ago.
Dixie reported sales of $83,617,000, well ahead of the $66,566,000 in the second quarter last year.
“The second quarter was one of strong performance both residentially and commercially," said CEO Daniel K. Frierson.
Dixie had a year-over-year sales improvement of 26% with sales growth in all areas of the business.
Dixie said its residential business was up 27% from a year ago, while commercial sales rose 21%.
“Our continued growth in excess of 20% in 2013 is a result of the investments we have made over the last several years in new products and sales coverage," Frierson said.
The residential growth was a combination of strong results in it mass merchant channel, continued growth of our Stainmaster, TruSoft, and SolarMax products, strength in its wool business and momentum gained from the integration of the Gulistan products purchased late last year, the company said.