Woven and tufted broadloom carpet marketer Mohawk Industries Inc announced net sales for the third quarter of 2005 increased 11 percent to $1,697,634,000 from $1,529,651,000 for the third quarter of 2004. Diluted earnings per share (EPS) and net earnings for the third quarter of 2005 were $1.61 (4 percent below last year) and $108,652,000 (4 percent below last year), respectively.
This compares to EPS and net earnings of $1.67 and $112,687,000, respectively, for the third quarter of 2004. The third quarter results were impacted by higher raw material costs, increasing energy costs and additional ceramic tile introductions that were shifted from the second to the third quarter partially offset by higher sales volume.
The sales increase was due to higher sales volume in both the Mohawk and Dal-Tile segments as well as price increases. In the third quarter of 2005, the Mohawk segment net sales of $1,248,216,000 increased 11 percent from $1,129,422,000 and the Dal-Tile segment net sales of $449,418,000 grew 12 percent from $400,229,000. The growth in both segments resulted from unit growth and price increases.
EPS for the first nine months of 2005 was $4.03 (2 percent above last year) and net earnings were $272,483,000 (2 percent above last year) compared to $3.94 EPS and $266,152,000 in net earnings for the first nine months of 2004. This increase in EPS and earnings is attributable to sales growth, partially offset by higher raw material and energy costs. Net sales for the first nine months of 2005 were $4,815,548,000, representing a 9 percent increase from 2004 sales of $4,405,273,000. The sales increase resulted from volume growth and price increases.
marketing@alchempro.com
