Interface Sales Up 2.7% for Q1
Atlanta, GA, May 5, 2023-Interface reported net sales of $295.8 million for Q1 2023, up 2.7% over Q1 2022’s $288 million.
The company reported a net loss for Q1 2023 of $714,000, compared to net income of $13.3 million in the same period last year.
For the Americas business, Q1 2023 net sales were $169.2 million, up 8.1% versus $156.5 million in the prior year period, while Q1 2023 orders were up 6.2% compared to the prior year period on a currency neutral basis.
“In the first quarter, we delivered currency-neutral revenue growth of 5%, driven by the education and corporate office segments. Currency neutral orders were up 6% in the Americas, 19% in Australia, and 3% in Europe excluding Russia. Weakness in China, and the exit of our Russia business, drove an overall 2% currency neutral decline in consolidated orders year-over-year. We are investing in customer-facing activities and innovation to drive our short and long-term growth, while managing all other costs and focusing on productivity to improve our margins,” commented Laurel Hurd, CEO of Interface.