Mohawk reports higher earnings

Mohawk reports higher earnings

February 22nd, 2011 by Staff Report in Local - Breaking News

Melissa Kernea prepares to pick up a load of yarn off of a conveyor belt at Mohawk Industries, Inc. in Dalton, Ga., in this file photo.

Photo by Staff File Photo/Times Free Press.

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.