Home / Knowledge / News / Textiles / Interface posts marginal rise in Q1 sales
Interface posts marginal rise in Q1 sales
25
Apr '13
Interface, Inc. a worldwide floorcoverings company and global leader in sustainability, announced results for the first quarter ended March 31, 2013.

"Even though the first quarter is seasonally our slowest period, our Americas division jumped out to a strong start by posting a record number for first quarter sales," said Daniel T. Hendrix, Chairman and Chief Executive Officer of the Company.

"The revenue gains in the Americas and a double-digit percentage sales increase in Southeast Asia were offset by weak sales in Europe due to a combination of continued economic uncertainty and unusually bad weather in the U.K. at the end of the quarter, and by the impact of the fire at our Picton, Australia plant last summer. 

Despite the general malaise in Western Europe, our European division maintained a healthy operating margin, and our supply chain and lead times for servicing Australia are stabilizing in advance of commissioning our rebuilt plant later this year."

First Quarter 2013 Financial Summary & Highlights

Sales:  Sales for the first quarter of 2013 were $210.4 million, essentially even with sales of $210.0 million in the first quarter of 2012.

Our Americas business, up 9% year-over-year, led the sales increase, with strong growth coming in the corporate office segment (up 21%) as well as non-office segments such as hospitality (up 68%), government (up 4%) and healthcare (up 3%).   Sales in our consumer business, FLOR, were up 24% year-over-year for the first quarter, mostly due to the expanded FLOR store channel.

Asia-Pacific sales were down 8% overall, with strong growth in Southeast Asia (up 11%) offset by the decline in Australia (down 13%).

The European region was down 10% in local currencies, or 9% as reported in U.S. dollars.  Germany finished the quarter with a strong March to pull even with the prior year, and we saw nice activity in emerging markets such as Eastern Europe, the Middle East and India.

Operating Income:  Operating income in the first quarter of 2013 was $14.0 million, or 6.7% of sales, down from the first quarter of 2012 when it was $16.6 million, or 7.9% of sales, excluding a restructuring and asset impairment charge of $16.3 million. 

Including the charge, operating income in the first quarter last year was $0.3 million.  SG&A expenses in the first quarter of 2013 were $57.3 million, or 27.2% of sales, versus $53.9 million, or 25.7% of sales, in the first quarter of 2012.  The increase in SG&A expenses was mostly due to the continued development of our FLOR consumer business and the expansion of our sales force in the U.S.


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search