The Dixie Group, Inc. met analysts expectations for the second quarter with sales up 27 percent over last year.
The Chattanooga-based carpet maker said today it earned $1.68 million, or 13 cents per share, on sales of $83.6 million in the spring quarter. In the same period a year ago, Dixie lost $404,000, or 3 cents per share, on sales of $66.56 million.
"The second quarter was one of strong performance both residentially and commercially," Dixie Group CEO Dan Frierson said in a statement. "Our sales growth in the residential business was 27 percent as compared to the same period a year ago. We believe the residential market grew during the quarter in the high single digits with the market strengthening as the quarter progressed. It appears that the residential carpet market is now being positively impacted by the increase in the housing sector that began in 2012."
Dixie said its comercial sales increased 21 percent over the same period a year ago.