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Dixie Broadloom commercial carpet products grows in 2007
26 Feb '08
3 min read
The Company's other defined benefit pension plan was terminated in the second quarter of 2006. Expenses to terminate that legacy defined benefit pension plan were $3,249,000 pre-tax, which reduced income from continuing operations by $2,057,000, or $0.16 per diluted share, for fiscal 2006.
Commenting on the results, Daniel K. Frierson, chairman and chief executive officer, said, "Continued weakness, particularly in residential carpet markets, has had a negative impact on the industry and our business. The industry reported that carpet sales declined 6.5% in the fourth quarter and 8.0% for 2007, compared with the prior-year periods.
During these same periods, our sales continued to out-perform those of the industry, with year-over-year carpet sales comparisons that were relatively flat for the fourth quarter and down only about 2.8% for the full year.
"Our commercial carpet business continued to show relatively strong results, growing 11% in the fourth quarter and 10.5% for fiscal 2007. Broadloom commercial carpet products grew for both the fourth quarter and year, and our new modular/carpet tile products continued to gain momentum - posting sales of over $2.7 million during the fourth quarter. Our carpet tile operation was profitable for the fourth quarter of 2007.
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Commenting on the results, Daniel K. Frierson, chairman and chief executive officer, said, "Continued weakness, particularly in residential carpet markets, has had a negative impact on the industry and our business. The industry reported that carpet sales declined 6.5% in the fourth quarter and 8.0% for 2007, compared with the prior-year periods.
During these same periods, our sales continued to out-perform those of the industry, with year-over-year carpet sales comparisons that were relatively flat for the fourth quarter and down only about 2.8% for the full year.
"Our commercial carpet business continued to show relatively strong results, growing 11% in the fourth quarter and 10.5% for fiscal 2007. Broadloom commercial carpet products grew for both the fourth quarter and year, and our new modular/carpet tile products continued to gain momentum - posting sales of over $2.7 million during the fourth quarter. Our carpet tile operation was profitable for the fourth quarter of 2007.
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The Dixie Group Inc
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