Calhoun, Ga.-based Mohawk Industries Inc. today reported that fourth quarter earnings rose on reduced costs.
The floorcovering company reported net earnings of $46 million, or 66 cents per share, in the quarter. That compares to earnings of $20 million, or 29 cents per share, a year ago, the company said.
"Our earnings exceeded our expectations as results were positively impacted by enhanced manufacturing efficiencies, benefits from restructuring actions...and improved process consistency,” said Jeffrey S. Lorberbaum, Mohawk’s chairman and chief executive.
Net sales for the fourth quarter were $1.3 billion, which was a decrease of about 6 percent versus 2009.
Get breaking news from the Times Free Press on Twitter at www.twitter.com/timesfreepress or by visiting us on Facebook or Twitter at the right:
related articles »
Mohawk Industries capitalized on the improving construction market and recent acquisitions to boost its fourth quarter earnings from continuing operations ...
Regions Financial Corp. reported a 5.3 percent drop in profit in the third quarter as mortgage refinancings declined as interest ...
Covenant Transport doubled its third quarter earnings from a year ago despite cost pressures from higher driver pay.
CBL & Associates Properties Inc. on Tuesday posted fourth-quarter earnings that beat analysts' estimates, citing better operating results and a ...