Dixie Group Issues Earnings Report, Continues Atmore Masland Changes

October 30, 2014

The Dixie Group has issued its third quarter earnings report as the company continues to make changes at its Masland plant in Atmore. The company announced an overall loss Wednesday despite increased sales.

During the quarter, the company shutdown both the yard and carpet dyeing operations in Atmore and transferred those products to a combination of internal operations and external suppliers. The company will also continue to decommission a waste water treatment plant in Atmore.

For the quarter, the Company had sales of $109,359,000 and a loss from continuing operations of $166,000, or $0.01 per diluted share, compared with sales of $90,210,000 and income from continuing operations of $1,432,000, or $0.11 per diluted share for the third quarter of 2013. Income from continuing operations, excluding manufacturing integration, facility consolidation, equipment impairment, and acquisition related expenses, after-tax, was $1,326,000 (non-GAAP adjusted income from continuing operations), or $0.08 per diluted share for the period. The Company had $2,579,000 in facility consolidation, equipment impairment and acquisition related expenses during the period as it implements its previously announced plans to expand capacity, integrate acquisitions and streamline operations.

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Written by William Reynolds · Filed Under News