CHATTANOOGA, Tenn. -- The Dixie Group Inc. reported a net loss of $2.7 million, or 24 cents per diluted share, for the first quarter ended March 31, compared with a net loss of $1.2 million, or 10 cents per diluted share, for the first quarter of 2000.
The net loss for first quarter 2001 included $1.5 million ($900,000 after-tax), or 8 cents per diluted share, of unusual charges for severance and an asset write-down. The asset write-down is related to the pending sale of a small dyeing facility. Sales for the 2001 quarter, including $12.3 million from the July 1, 2000 acquisition of Fabrica international, were $133.1 million, down from $136.4 million in 2000. The first quarter 2001 reporting period covered 13 weeks vs. 14 weeks reported in the prior year. On a weekly basis, sales improved 5.1% in the 2001 quarter.