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

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

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

Suresh Patel
Sidwin Fabric

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

Vaanee Bhatia
Gritstones Clothing

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

December 2017

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
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

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
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

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
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

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
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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