Home / Knowledge / News / Textiles / Interface European sales up 15% in Q2FY'15
Interface European sales up 15% in Q2FY'15
24
Jul '14
Interface, Inc, a worldwide carpet tile company and global leader in sustainability, announced results for the second quarter ended June 29, 2014.
 
Second Quarter 2014 Financial Summary & Highlights:
Sales: Sales for the second quarter of 2014 were up 7.0% to $260.6 million, compared with $243.5 million in the second quarter of 2013. Sales in our Americas business increased 4% year-over-year, with most of the growth coming in non-office segments.  
 
The hospitality (up 30%), retail (up 21%) and education (up 7%) segments had the largest percentage gains, with government (down 4%) and healthcare (down 2%) being the only declining segments.  The corporate office segment grew less than 1% compared with the second quarter last year.  FLOR sales were disappointing, down 9% year-over-year.
 
Europe business showed the most momentum, with sales up 15% (or 9% in local currency), mainly due to strength in the U.K., Ireland and Germany.  The corporate office segment (up 18%) led the gains. Sales were up 5% in the Asia-Pacific region, with Australia bouncing back and approaching revenue levels that existed prior to the 2012 plant fire.  China also contributed to the growth, with Southeast Asia remaining flat.
 
Operating Income: Second quarter 2014 operating income increased to $24.3 million, or 9.3% of sales, compared with $21.8 million, or 9.0% of sales, in the second quarter last year.  Gross profit margin was 34.7% in the second quarter of 2014, compared with 35.4% in the prior year period, but represented an improvement of 60 basis points sequentially compared with the first quarter this year.  
 
SG&A expenses were $66.0 million, or 25.3% of sales, in the second quarter of 2014, versus $64.4 million, or 26.5% of sales, in the second quarter of 2013.  The year-over-year SG&A percentage improvement was mostly due to improved sales volume, reduced equity compensation, and reduced marketing activity in Europe.
 
Net Income: Net income during the second quarter of 2014 increased to $13.1 million, or $0.20 per share, compared with net income of $11.0 million, or $0.17 per share, in the second quarter last year.
 
Year to Date 2014 Financial Results:
Sales: For the first six months of 2014, sales increased 5.7% to $479.6 million, compared with $453.9 million in the first six months last year.
 
Operating Income: Operating income for the 2014 six-month period was $36.4 million, or 7.6% of sales.  Operating income in the first six months of 2013 was $35.8 million, or 7.9% of sales.
 
Net Income: The Company reported net income of $17.1 million, or $0.26 per share, for the first six months of 2014. This compares with net income of $16.1 million, or $0.24 per share, in the first six months of 2013, excluding a previously-reported tax dispute resolution benefit of $1.9 million, or $0.03 per share. With the tax resolution benefit included, net income in the first six months of 2013 was $18.0 million, or $0.27 per share
 

Interface


Must ReadView All

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Kraig delivers first dragon silk fibre to medical firm

Kraig Biocraft Laboratories, Inc. a leading developer of genetically...

Information Technology | On 23rd Aug 2017

ThreadSol to organise Apparel Tech-Up in Bangladesh

ThreadSol, the pioneer in enterprise material management for sewn...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

August 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
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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