Armstrong Q4 Net Sales Fell 3.3% on Declining Hardwood Sales
Lancaster, PA, March 6, 2018-Armstrong Flooring reported a decline of 3.3% in Q4 sales compared to the prior year period and a decline of 5% in net sales for fiscal year 2017.
Armstrong reported net sales of $262.7 million for Q4 2017, 3.3% below Q4 2016’s $271.7 million. According to the company, the decline in net sales was “primarily as a result of a decline in net sales in the Wood Flooring segment.” Net loss for the quarter was $20.7 million, compared to a loss of $6.3 million in the prior year period.
For fiscal year 2017, Armstrong reported sales of $1.13 billion, a 5% decrease from fiscal year 2016’s $1.19 billion. Net loss for fiscal year 2017 was $41.8 million, compared to net income of $9.2 million in the prior year.
For the quarter, the resilient flooring segment posted net sales of $158.2 million, compared to $158.3 million in Q4 2016. For the year, the resilient category reported sales of $700.9 million, a 0.9% loss compared to $707.1 million in fiscal year 2016.
The wood flooring segment posted net sales of $104.5 million for Q4, a loss of 7.9% compared to $113.4 million in Q4 2016. For fiscal year 2017, the wood flooring segment had sales of $432.8 million, a loss of 11% compared to 2016’s $486.1 million.
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