Interface Reports Sales Increases in Q3 w/ Nora Acquisition
Atlanta, GA, October 25, 2018-Interface has reported a net sales increase of 24% for Q3 2018, compared to Q3 2017. Carpet tile and LVT contributed relatively equally to third quarter's growth. Nora sales increased revenue approximately $41 million in the quarter.
Net income for Q3 was $8.172 million, compared to $19.439 million in the same period last year.
Interface officially completed the acquisition of Nora Systems on August 7.
For the first nine months of the year, net sales rose 15% over the same period last year. Organic sales grew 9% versus the prior year period with solid growth in both carpet tile and LVT.
Interface reported net income of $44 million year-to-date in 2018, compared with $49 million for the same period in 2017.