Home / Knowledge / News / Textiles / Gross profit touches 36% at modular carpet maker
Gross profit touches 36% at modular carpet maker
24
Apr '08
Interface Inc, a worldwide floorcoverings company, announced results for the first quarter ended March 30, 2008.

Sales for the first quarter of 2008 increased 7.5% to $261.7 million from sales of $243.5 million in the year ago period. Gross profit margin expanded 180 basis points to 36.0%, versus 34.2% in the first quarter last year. Operating income for the first quarter of 2008 increased 27.4% to $31.0 million, or 11.8% of sales, compared with operating income of $24.3 million, or 10.0% of sales, in the first quarter of last year.

Income from continuing operations was $14.1 million, an increase of 55.7% compared with income from continuing operations of $9.1 million in the first quarter of 2007. Net income for the 2008 first quarter was $14.1 million, or $0.23 per diluted share.

As previously announced, the Company sold its fabrics division in July 2007, and therefore the financial statements for all periods presented now reflect the fabrics division as discontinued operations. Last year, first quarter results included a loss from discontinued operations of $49.7 million, which led to a net loss of $40.6 million, or $0.66 per diluted share.

"The 2008 first quarter was the best first quarter in our history, giving us a good start to the year," said Daniel T. Hendrix, President and Chief Executive Officer.

"Sales were up nearly 8% during what historically has been the seasonally slowest quarter for our business. Our growth was driven by the market's secular shift to carpet tile and by our market segmentation strategy, which has enabled us to continue expanding our presence in education, hospitality and other non-office segments.


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search