The Dixie Group had net sales of $59 million in the second quarter, beating last year’s second quarter results of $52.5 million.
But the the company lost $684,000, or 5 cents per share, compared with a loss of $984,000, or 8 cents a share for the same quarter in 2009, missing analysts’ expectations by a penny per share.
Dan Frierson, chairman and CEO of Dixie, said that the company experienced “significant improvement in revenue” during the second quarter.
“Carpet sales for the second quarter were 17 percent above those of the first quarter and 12.8 percent above the same quarter last year, while the industry was up only 1.7 percent over the year-ago quarter.”
Murfreesboro lands supplier
Japanese supplier NHK Seating of America Inc. plans to locate an auto parts plant in Murfreesboro, Tenn., Gov. Phil Bredesen said Wednesday.
NHK will spend nearly $54 million to construct the facility beginning in October. It is to employ up to 224 workers by 2015 making seat frames and other parts.
“Tennessee continues to be a leading location for investment from the automotive industry,” Bredesen said.