For the first six months of 2008, sales were $556.7 million, compared with $508.5 million for the same period a year ago, an increase of 9.5%. Operating income for the 2008 six-month period was $64.4 million, versus operating income of $55.2 million for the comparable 2007 six-month period (which included a loss of $1.9 million, or $0.03 per diluted share, on the disposal of its specialty products business).
Income from continuing operations was $30.0 million, or $0.48 per diluted share, in the 2008 six-month period, compared with income from continuing operations of $22.4 million, or $0.36 per diluted share, in the same period a year ago. Net income also was $30.0 million, or $0.48 per diluted share, in the first six months of 2008. Including results of discontinued operations, net loss for the first six months of 2007 was $39.6 million, or $0.64 per diluted share.
Mr. Hendrix concluded, "Given the broader macroeconomic conditions, we're largely pleased with our second quarter performance, and notwithstanding the slowing conditions in the Western Europe and U.S. corporate office markets, we're encouraged by our future prospects. We believe the ongoing shift in the marketplace to carpet tile, the continued success of our U.S. segmentation strategy, which has allowed us to build a growing presence in markets such as hospitality and education, and our international diversification serve to position us well for future growth.
Our ongoing investments to advance our segmentation strategy in Europe are expected to further reduce our exposure to the corporate office market and open additional growth opportunities in that region. And, we're moving forward with plans to expand our global presence by building a carpet tile plant in China. We believe we have the right strategy in place, and are confident in our business as we enter the second half of 2008."
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
