Creeler Vickie Glover replaces an empty spool at the Dixie Group in North Georgia.Dixie Group comebackIncome (loss):2002 – $11.4 million2003 – ($9 million)2004 – $12.3 million2005 – $10.1 million2006 – $7.7 million2007 – $6.2 million2008 – ($31.4 million)2009 – ($42 million)2010 – ($4.37 million)2011 — $1.27 million2012 — $1.8 million2013 – $8.6 millionSource: Dixie Group, news reports
The Dixie Group powered back from the nagging recession with an $8.6 million operating profit during the full year, up from $1.8 million in earnings for 2012, the company reported on Wednesday.
Since a near-fatal $42 million loss 2009, Dixie has steadily grown the bottom line, increasing sales while cutting expenses.
During the fourth quarter, Dixie earned $1.8 million in operating profit, up from $415,000 in the fourth quarter of 2012, as the carpet maker benefited from rapid product launches and good penetration in the high end of the residential and commercial markets.
Dixie outpaced the industry, exceeded its own 2006 profits by $1 million, and is actually in expansion mode after years of staggering losses and anemic profits, said Dan Frierson, chairman and CEO of the Chattanooga-based carpet maker.