The Dixie Group Inc reported financial results for the second quarter and six months ended July 1, 2006.
For the second quarter, income from continuing operations was $2,904,000, or $0.22 per diluted share, compared with income from continuing operations of $3,584,000, or $0.28 per diluted share, for the second quarter of 2005. Sales for the second quarter of 2006 were $88,046,000, up 7% from sales of $82,073,000 in the year-earlier quarter.
For the first six months of fiscal 2006, income from continuing operations was $3,829,000, or $0.30 per diluted share, compared with income from continuing operations of $5,456,000, or $0.43 per diluted share, for the first half of 2005. Sales for the first six months of 2006 were $167,219,000, up 9% from sales of $154,107,000 in the prior-year period.
Daniel Frierson, Chairman and Chief Executive Officer, said, "Our sales continued to grow much faster than the carpet industry. Driven by strong demand for our Dixie Home and Masland commercial products, sales of carpet increased 8% in the second quarter and 10% for the first half of the year. Unit sales of broadloom carpet rose 20% in the second quarter and 16% for the first half of 2006, well above the industry's growth. Our sales in dollars increased at a slower rate than units sold due to the significant growth of our Dixie Home and Masland commercial products, which have lower average selling prices than our Masland and Fabrica residential brands, and unusually high levels of sales of products at promotional prices during the second quarter.
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