Interface Reported Net Sales Growth of 22.6% for Q4 2021
Atlanta, GA, March 3, 2022--Interface reported Q4 2021 net sales of $339.6 million, a 22.6% increase versus $276.9 million in the prior year period with growth across all product categories.
The company recorded Q4 2021 net income of $21.8 million, an 11% increase compared to Q4 2020 net income of $19.6 million.
Net sales for fiscal year 2021 were $1,200.4 million, an 8.8% increase versus $1,103.3 million in the prior year. The prior year included 53 weeks of net sales and a strong pre-pandemic first quarter, versus fiscal year 2021 that included 52 weeks of net sales and a recovering commercial market.
The company recorded net income of $55.2 million in fiscal year 2021, compared to a fiscal year 2020 net loss of $71.9 million.
"We had a strong finish to fiscal 2021 as demand for our unique carbon neutral and carbon negative products continues to grow. Fourth-quarter orders increased 19% and net sales grew 23% versus the prior year period, driven by strength across all product categories. I continue to be impressed by our team's ability to navigate through a difficult year marked by inflation and supply chain headwinds. We successfully mitigated the negative impact on margins and, as promised, we materially and sustainably reduced SG&A expenses as a percentage of net sales," said Dan Hendrix, chairman and CEO of Interface. "Significant wins throughout the year drove progress on our Climate Take BackTM journey, underpinning our position as a leader in carbontech. As businesses increasingly adopt carbon reduction goals, we are in the best industry position to fulfill this growing and important need in the marketplace."