Resilient Drove Sales & Income Increases for Armstrong in Q3
Lancaster, PA, November 6, 2018-Armstrong’s net sales rose 0.4% in Q3 2018 compared to Q3 2017.
Q3 net income was $7.9 million, compared to net loss of $18.7 million to the same quarter last year.
The resilient flooring segment increased net sales by 7% in Q3, while wood flooring net sales fell 11%.
Don Maier, chief executive officer, commented, “Third quarter net sales improved led by 7% growth in our Resilient segment, which more than offset lower Wood segment sales. We generated significant volume growth in Luxury Vinyl Tile (“LVT”) as well as higher selling prices across many product categories, reflecting our 2018 pricing actions in response to inflationary pressure.”
Related Topics:Armstrong Flooring