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Q2FY17 income from operations triples at Dixie Group
29
Jul '16
Income from continuing operations at the Dixie Group for the second fiscal quarter ended June 25, 2016 more than tripled to $1.61 million or $0.10 per fully diluted share.

This compares with income from continuing operations of $516,000, or $0.03 per fully diluted share, in the second fiscal quarter of 2015-2016.

For the reporting quarter, net sales stood at $105.3 million or 4.2 per cent below $109.9 million the company reported in the prior fiscal's second quarter.

Total carpet sales for the quarter were down 4.4 per cent year over year in the quarter under review, while commercial product sales were down 8.1 per cent.

Despite the drop in sales compared to the fiscal ago period, its operating margins improved slightly to 26.8 per cent.

Furthermore, the company's operating margins improved 5.0 per cent over the first fiscal quarter of current fiscal.

On a non-GAAP basis, which excludes restructuring expenses, the company earned $0.12 per share for the second quarter of fiscal 2016-17 as against $0.07 per fully diluted share in the same quarter of earlier fiscal. (AR)

Fibre2fashion News Desk - India

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