The Dixie Group, Inc. boosted carpet sales by more than 21 percent in the first quarter, which helped reverse last year’s losses to create a net income of $623,000, or 5 cents per share, in the first three months of the year.
The Chattanooga-based carpet maker said today that sales in the traditionally slow winter quarter grew to nearly $66 million despite adverse weather during January. In the same time a year ago, Dixie lost $2.5 million, or 20 cents per share, on sales of $50.4 million.
"Although severe weakness in the housing industry and tough credit conditions will likely persist throughout this year, we expect improved sales volumes during the second quarter as a result of the normal seasonality of the carpet industry and the strength of our business,” Dixie CEO Dan Frierson said. “We anticipate our sales to continue to outpace those of the carpet industry as a whole, due to the performance of our commercial business and the continued success of our new residential products.”
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