'We continue to review our cost position' - Dixie Chairman

27 Oct '09

4 min read

“As past experience has shown us, we generally see the residential business return ahead of the commercial business. Since we normally see a pickup of sales in our residential business in the fourth quarter of the year, we are hopeful that we will experience similar results this year. We cannot predict how long the current economic downturn will last nor its impact on the markets we serve, but we continue to make those changes that will allow us to weather the current economic storm and that will benefit our business when market conditions improve,” Frierson concluded.

The Company's income from discontinued operations was $23,000, or $0.00 per diluted share, for the third quarter of 2009, compared with a loss from discontinued operations of $101,000, or $0.01 per diluted share, for the third quarter of 2008. Including discontinued operations, the Company reported a net loss of $1,994,000, or $0.16 per diluted share, for the third quarter of 2009 compared with a net loss of $833,000, or $0.07 per diluted share, for the year-earlier period. For the year-to-date period in 2009, the Company's loss from discontinued operations was $176,000, or $0.01 per diluted share, compared with a loss of $167,000, 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 $38,618,000, or $3.14 per diluted share, for the first nine months of fiscal 2009 compared with net income of $466,000, or $0.04 per diluted share, for the year-earlier period.

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