Dixie Group swings to Q3 net income of $577,000 as net sales rise to $65.23 million
DXYN•Dixie Group reported third-quarter net income of $577,000, or $0.04 per diluted share, and net sales of $65.23 million. Operating results turned to income of $2.38 million, and gross margin improved to 26.6%.
1. Quarterly results
Dixie Group swung to third-quarter net income of $577,000, or $0.04 per diluted share, from a loss a year earlier. Net sales increased to $65.23 million, operating results turned to income of $2.38 million, and gross profit margin improved to 26.6%, reflecting cost reductions and improved operating efficiencies. The company introduced 14 soft-surface styles and four hard-surface collections during the quarter.
