"Company is very pleased with results for the quarter, which reflected healthy top-line growth and profitability improvements across nearly all of their businesses and regions," said Daniel T. Hendrix, President and Chief Executive Officer. "The results speak to the success they are achieving in their markets, the strength of their brands and their segmentation strategy, and the earnings leverage built into their company. Their modular business continued to lead the way, as the Americas, Asia-Pacific, and European regions all produced double-digit growth in sales and operating income during the quarter. Additionally, they were encouraged to see continued recovery in the corporate office market and considerable success in the retail space market, which helped drive consolidated orders up 17 percent to $262 million, compared with the second quarter of last year."
Hendrix continued, "Interface continues to lead and shape the modular carpet market, which is expanding in virtually all parts of the world. Our segmentation strategy is working well, enabling us to gain market share and deliver worldwide modular sales growth of 20 percent year-over-year. Revenues in our fabrics business were up 6 percent, largely due to the improving corporate office market reflected in sales to OEM customers, and we expect improved profitability in this business during the second half of the year. In our Bentley Prince Street broadloom business, orders were up 9 percent, and we are confident that our initiatives to cut costs and increase manufacturing efficiencies in this business will lead to continued profit improvements as we move through the rest of the year."
marketing@alchempro.com
