Interface Reports Q2 Net Sales Rose 14%, Income Up 229%
Atlanta, GA, August 12, 2021-Interface announced Q2 net sales were $294.8 million, up 14% versus $259.5 million in the prior year period.
For Q2 2021, the company’s net income was $15.5 million, an increase of 229% compared to $4.7 million in Q2 2020.
Net sales for the first six months of 2021 were $548.0 million, flat versus $547.7 million in the prior year period.
The company recorded net income of $22.4 million in the first half of 2021, compared to first half 2020 net loss of $97.5 million.
"We delivered strong second quarter results with sales growth of 14%, driven by recovering economic activity throughout North America and parts of Europe. Orders came roaring back in the second quarter, increasing 38% year over year and 21% sequentially, with momentum accelerating across all market segments as the quarter progressed," said Dan Hendrix, chairman and CEO of Interface.
"Demand for our carbon negative backings continues to build in the marketplace, and we increasingly see these products written into customer specifications. We are encouraged by the positive momentum in this early stage of the rollout which bodes well for the second half of 2021."
"Industry-wide supply chain volatility negatively impacted our bottom line in the second quarter, but was partially offset by our extensive use of recycled raw material inputs. Continued cost control measures, along with the steady acceleration of new orders, gives us confidence to project a strong second half of 2021," added Bruce Hausmann, CFO of Interface.
Related Topics:Interface, Armstrong Flooring