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Dixie Group experiences normal seasonal increase in business
01 Aug '09
4 min read
"The new structure should enable us to improve our responsiveness to customers' changing needs and market conditions as well as enhance our operating capability, while significantly reducing costs. We will continue to build and invest in our brands - Masland Residential, Fabrica, Dixie Home, Masland Contract, and Whitespace; each has a distinct character and each is designed to appeal to and attract different customers.
"Gary Harmon has announced his plans to retire as Chief Financial Officer at the end of third quarter. He has agreed to be a consultant to Dixie for a two-year period following his retirement and will be replaced by Jon Faulkner, who currently serves as Vice President - Planning and Development. Jon will continue to be responsible for strategic planning in addition to his new duties as Chief Financial Officer.
"David Polley, Vice President - Marketing, will be retiring from Dixie in the fourth quarter," Frierson concluded.
The Company's loss from discontinued operations was $83,000, or $0.01 per diluted share, for the second quarter of 2009, compared with income from discontinued operations of $3,000, or $0.00 per diluted share, for the second quarter of 2008.
Including discontinued operations, the Company reported a net loss of $1,067,000, or $0.09 per diluted share, for the second quarter of 2009 compared with net income of $1,286,000, or $0.10 per diluted share, for the year-earlier period. For the first half of 2009, the Company's loss from discontinued operations was $199,000, or $0.02 per diluted share, compared with a loss of $66,000, or $0.01 per diluted share, in the prior-year period.
Including discontinued operations and the aforementioned unusual costs, the Company reported a net loss of $36,624,000, or $2.99 per diluted share, for the first six months of fiscal 2009 compared with net income of $1,299,000, or $0.10 per diluted share, for the year-earlier period.
"Gary Harmon has announced his plans to retire as Chief Financial Officer at the end of third quarter. He has agreed to be a consultant to Dixie for a two-year period following his retirement and will be replaced by Jon Faulkner, who currently serves as Vice President - Planning and Development. Jon will continue to be responsible for strategic planning in addition to his new duties as Chief Financial Officer.
"David Polley, Vice President - Marketing, will be retiring from Dixie in the fourth quarter," Frierson concluded.
The Company's loss from discontinued operations was $83,000, or $0.01 per diluted share, for the second quarter of 2009, compared with income from discontinued operations of $3,000, or $0.00 per diluted share, for the second quarter of 2008.
Including discontinued operations, the Company reported a net loss of $1,067,000, or $0.09 per diluted share, for the second quarter of 2009 compared with net income of $1,286,000, or $0.10 per diluted share, for the year-earlier period. For the first half of 2009, the Company's loss from discontinued operations was $199,000, or $0.02 per diluted share, compared with a loss of $66,000, or $0.01 per diluted share, in the prior-year period.
Including discontinued operations and the aforementioned unusual costs, the Company reported a net loss of $36,624,000, or $2.99 per diluted share, for the first six months of fiscal 2009 compared with net income of $1,299,000, or $0.10 per diluted share, for the year-earlier period.
Dixie Group Inc
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