Tennessee based leading maker and marketer of carpet, The Dixie Group Inc reported financial results for the second quarter and six months ended June 25, 2005. For the second quarter, income from continuing operations was $3,584,000, or $0.28 per diluted share, compared with income from continuing operations of $3,486,000, or $0.27 per diluted share, for the second quarter of 2004. Sales for the second quarter of 2005 were $82,073,000, up 16 percent from sales of $70,818,000 in the year-earlier quarter.
For the first six months of fiscal 2005, income from continuing operations was $5,456,000, or $0.43 per diluted share, compared with income from continuing operations of $5,463,000, or $0.43 per diluted share, for the first half of 2004. Sales for the first six months of 2005 were $154,107,000, up 14 percent from sales of $135,221,000 in the prior-year period.
Commenting on the results, Daniel K. Frierson, Chairman and Chief Executive Officer, said, "While company is pleased that their revenue grew 16 percent and operating income improved 13 percent, higher interest expense and lower other income resulted in income from continuing operations that was only slightly ahead of the second quarter last year.
The improved revenue reflected an 18 percent year-over-year increase in carpet sales for the second quarter and first six months of 2005. Sales of their residential carpet grew 19 percent and their commercial carpet sales rose 17 percent during these periods.
marketing@alchempro.com
