Home / Knowledge / News / Textiles / Flooring business remains slow at Mohawk Industries

Flooring business remains slow at Mohawk Industries

Apr '07
Mohawk Industries Inc announced 2007 first quarter net earnings of $90 million and diluted earnings per share (EPS) of $1.32 (both 14% above last year). The 2007 first quarter net earnings include income of $5.8 million from a partially paid customs refund, net of taxes.

Net sales for the quarter were $1,864 million, a decrease of 3% from 2006. We continued to generate strong cash flow during the quarter. Cash flow from operations was $89 million and EBITDA was $249 million during the quarter. In addition, debt of $84 million was paid down during the quarter.

In commenting on the first quarter results, Jeffrey S. Lorberbaum, Chairman and CEO, stated: "The first quarter results were better than we had anticipated and exceeded our estimate. The U.S. flooring business remains slow, however comparisons to the prior year, when the industry slowed down, will be easier in the second half of 2007. The residential business remains challenging in all product categories reflecting softness in both the new and remodeling businesses."

"Commercial sales are outperforming the rest of the business and are expected to continue throughout this year. In the U.S., we are managing our costs and improving productivity while still maintaining investments in products, marketing and assets. All businesses are managing their inventory levels, expenses and production schedules to adapt to the current industry downturn."

"The European economy maintained its positive trend and appears to have good momentum. The improved economic conditions in Europe allowed us to pass through rising material and energy costs."

Must ReadView All

Pic: Shutterstock

Textiles | On 27th Sep 2021

China's infrastructure plan to spur domestic demand, economic change

China’s State Council's executive meeting recently adopted the 14th...

Pic: Shutterstock

Apparel/Garments | On 27th Sep 2021

AAFA calls for tariff relief as US industry deals with shipping crisis

American Apparel & Footwear Association president and CEO Steve Lamar ...

Pic: Shutterstock

Textiles | On 25th Sep 2021

EU extends GSP plus status for Pakistan with 6 new conventions

The European Union (EU) has extended its general system of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Dave Rousse, INDA

Dave Rousse

INDA, a global association of the nonwoven fabrics industry, has been...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search