Interface, a worldwide commercial flooring company, announced results for the third quarter, which ended October 4, 2020.
Third-quarter net sales were $279 million, down 20% from $348 million in the prior-year period. Declines in carpet tile were somewhat moderated by lesser declines in LVT and rubber.
"During the third quarter, we intensified our focus on new product innovation, our customers and investing in initiatives to position Interface for long-term success, while remaining focused on the operational and financial levers within our control. Our operations teams have done an outstanding job of providing best-in-class service and ensuring safety, while flexing our cost structure to maintain healthy margins. We generated $65 million of cash from operations and repaid $43 million of debt during the quarter," commented Dan Hendrix, chairman and CEO of Interface.
To learn more about Interface, visit interface.com.