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Dixie Group, Masland Carpets Turn First Quarterly Profit Since ‘08
March 14, 2011
For the first time since 2008, Dixie Group — the parent company of Masland Carpets — has posted a quarterly profit.
“We are cautiously optimistic that 2011 will be a year of steady growth as we recover from the unprecedented downturn of the last few years,” said Daniel K. Frierson, chairman and chief executive officer. The company reported a net income of $516,000, or four cents per share, for the fourth quarter of 2010 compared with a net loss of $3,623,000, or $0.29 per diluted share, for the year-earlier period.
Across the industry, carpet sales were up less than one percent last year, but Dixie Group sales were up 14 percent.
Masland has added about 50 employees during the last six months to its Atmore facility for a total employment of about 410. The company also employees 160 in Saraland, Alabama.
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