Dixie Group Reports Double-Digit Sales Growth

Chattanooga, TN, July 29, 2010--The Dixie Group reported second quarter net loss of $744,000, or $0.06 per share, compared with a net loss of $1,067,000, or $0.09 per share, for the year-earlier period.

Second quarter net sales were $59,058,000 versus $52,572,000 in the same quarter of 2009.

For the six months ended June 26, Dixie reported a net loss of $3,273,000, or $0.26 per share, compared with a net loss of $36,624,000, or $2.99 per share for the prior period.

Net sales for the first six months were $109,512,000, versus $100,211,000, in the six months ended June 27, 2009.

"During the second quarter, we experienced significant improvement in revenue," said CEO Dan Frierson.

"Carpet sales for the second quarter were 17.0% above those of the first quarter and 12.8% above the same quarter last year, while the industry was up only 1.7% over the year-ago quarter.

“Our growth was most notable in our residential business, with strong performances in the high-end through numerous new wool offerings at Fabrica and Masland and our unique Masland Avenue collection. Dixie Home showed significant growth in its Durasilk products, and all three brands continued growth of the Stainmaster brand, with a number of new Luxurelle products.

“Our sales in the commercial sector were flat with the prior-year period which we believe slightly exceeds the industry performance for the period. We continue to introduce new products in the fastest growing segments of our markets as we strive to maintain our style and design leadership."

Related Topics:The Dixie Group, Masland Carpets & Rugs