Armstrong Operating Income, Sales, Fall in Q1

Lancaster, PA, April 30, 2009--Armstrong World Industries reported that first quarter adjusted operating income from continuing operations of $3.2 million decreased 93 percent from $43.8 million a year ago.

It also reported first quarter net sales of $668.3 million, down 19 percent, from $828.2 million in the same period for 2008.

Adjusted income excludes the impact of restructuring charges and related costs, and certain other gains and losses.

Loss from continuing operations was $11.2 million, or $0.20 per diluted share, compared to income of $15.1 million, or $0.26 per diluted share, in the first quarter of 2008. .

Armstrong said that first quarter adjusted operating income decreased significantly year-over-year due to double-digit volume declines across most businesses and geographies.

Volume in global commercial markets dropped at an accelerated pace over the quarter, and U.S. residential market continued to fall.

Resilient Flooring net sales were $241.2 million in the first quarter of 2009 compared to $292.7 million in the same period of 2008. Excluding the impact of foreign exchange rates, net sales declined about 12 percent.

Wood Flooring net sales of $121.8 million in the first quarter declined 24 percent from $160.3 million in the prior year's quarter due to continued declines in residential housing markets.