Home / Knowledge / News / Apparel/Garments / Interface sales marginally down in FY 2012
Interface sales marginally down in FY 2012
15
Feb '13
Interface, Inc. a worldwide carpet tile company and global leader in sustainability, announced results for the fourth quarter and fiscal year ended December 30, 2012.

Fiscal Year 2012 Financial summary

Sales: For the full year 2012, sales were $932.0 million, compared with $953.0 million in 2011, a decrease of 2.2%.Fluctuations in currency exchange rates negatively impacted 2012 sales by approximately 2% (approximately $15 million) relative to the prior year.

Operating Income:  Excluding restructuring and asset impairment charges totaling $19.4 million and $1.7 million of expenses related to the Australia fire, operating income for 2012 was $85.8 million, or 9.2% of sales.  This compares with operating income in 2011, excluding restructuring charges, of $91.5 million, or 9.6% of sales.  Including all items, operating income was $64.6 million in 2012, compared with $85.7 million in the prior year.

Income from continuing operations: Excluding restructuring and asset impairment charges and Australia fire expenses, income from continuing operations in 2012 was $39.4 million, or $0.60 per diluted share (with these items included, it was $22.9 million, or $0.35 per diluted share).  This compares with 2011 income from continuing operations, excluding a restructuring charge, of $42.3 million, or $0.65 per diluted share (with the charge included, last year's income from continuing operations was $38.3 million, or $0.58 per diluted share).

Net income:  Including all items, as well as a loss from discontinued operations of $17.0 million, the Company reported 2012 net income of $5.9 million, or $0.09 per diluted share.  In 2011, net income was $38.7 million, or $0.59 per diluted share.

Patrick C. Lynch, Senior Vice President and Chief Financial Officer, commented, "We ended the year in a strong financial position, with a cash balance of $90.5 million.  Orders were up 4.6% on a consolidated basis in the fourth quarter, with strength in the U.S. and decent improvements in Europe and Asia. 

While the impact of the fire at our Australia plant remains difficult to quantify, we believe the diminished level of business in the country negatively affected operating income in the range of $2.5 million to $3.5 million in the fourth quarter.  Our consumer business, FLOR, ended the quarter with a healthy year-over-year increase in sales, a consequence of robust retail store expansion in 2012.  In addition, our China plant swung from a loss to a profit during the quarter, as its production volume ramped up to support our Australia business.


Must ReadView All

Apparel/Garments | On 6th May 2016

Amazon's B2B marketplace notches up $1 bn in sales

Global e-commerce major Amazon.com Inc. sold $1 billion in goods on...

Courtesy: Kate Spade & Co

Apparel/Garments | On 6th May 2016

Kate Spade & Co’s net sales up 14.5% in Q1 2016

Kate Spade & Company, owner of two lifestyle brands – Kate Spade New...

Textiles | On 6th May 2016

Fine Japan zone to debut at Intertextile Pavilion Shenzhen

Fine Japan zone, a pavilion formed by a number of leading Japanese...

Interviews View All

Mr. Madhu Kapoor
Apparel & Leather Technics Pvt. Ltd.

Discuss the applications of various machines in textile industry. How do...

Veronique Lee
Modavanti

Sustainable fashion is not necessarily pocket- friendly. Are consumers...

Ms.Edda Walraf
Rieter Machine Works Ltd

How important is the upcoming trade show ITMA Asia + CITME 2014 for the...

Eamonn Tighe
Nature Works LLC

<b><i>Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of ...

Mr. R. N. Doshi
Rajoo Engineers Limited

Mr. R. N. Doshi, co-founder of the Rajoo Group - Excellence in Extrusion,...

Mark Paterson
Technical Absorbents Ltd

<b><i>Mark Paterson, R&D manager of Technical Absorbents Ltd talks about...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search