Home / Knowledge / News / Textiles / Carpet producer Interface Q3 sales up 4.8%
Carpet producer Interface Q3 sales up 4.8%
24
Oct '13
Interface, Inc., a worldwide carpet tile company and global leader in sustainability, announced results for the third quarter ended September 29, 2013.

Third Quarter 2013 Financial Summary & Highlights

Sales:  Sales for the third quarter of 2013 were $254.5 million, compared with sales of $242.9 million in the third quarter of 2012, an increase of 4.8%.

Sales in the Americas business increased 6.2% year over year and hit an all-time record level. Most of the growth occurred in the non-office segments of hospitality (up 55%), government (up 17%) and education (up 10%), and the corporate office market continued its gradual but steady recovery with a 4% sales increase.

The growth was partially offset by declines in the healthcare (down 15%) and retail (down 4%) segments. FLOR consumer business sales were up 22% versus the third quarter last year, due primarily to the larger FLOR store footprint and increased web traffic, with same store sales up 25% year over year.

Sales in the Asia-Pacific region were up 10%, with solid growth across the region, particularly in Southeast Asia and China. Australia sales grew 10% in local currency versus the fire-affected third quarter results last year, but the weakening of the Australian dollar caused a decline of 3% as reported in U.S. dollars.

Europe sales were essentially even year over year as reported in U.S. dollars (down 5.6% in local currency), but continued the trend of sequential improvement versus the prior quarter. The U.K. accounted for most of the decline in local currency, with mixed results throughout the rest of the region.

Operating Income:  Operating income in the third quarter of 2013 was $27.8 million, or 10.9% of sales.  This compares with operating income in the 2012 third quarter of $24.8 million, or 10.2% of sales, excluding charges of $770,000 (or $0.01 per share after-tax) primarily related to the restructuring of the Company's European operations, and $980,000 (or $0.01 per share after-tax) in expenses related to last year's fire at the Australian manufacturing facility.  Including the restructuring and Australia fire expenses, operating income for the 2012 third quarter was $23.1 million, or 9.5% of sales.

Income from Continuing Operations:  The Company reported income from continuing operations of $15.0 million (or $0.23 per diluted share) in the third quarter of 2013, versus $12.3 million (or $0.19 per diluted share) in the third quarter last year, excluding the restructuring charge and Australia fire expenses.  Including the restructuring and fire expenses, income from continuing operations in the third quarter last year was $11.1 million (or $0.17 per diluted share).

Net Income (Loss):  Net income during the third quarter of 2013 was $15.0 million, or $0.23 per diluted share.  In the third quarter last year, including the items discussed above, as well as a loss from discontinued operations of $16.8 million related to the sale of Bentley Prince Street, the Company reported a net loss of $5.8 million, or $0.09 per diluted share.

Click here to read full results

Interface

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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