Mohawk Industries Inc. announces record fourth quarter and year net earnings

Mohawk Industries Inc. announced record net earnings and diluted earnings per share (EPS) for the fourth quarter of 2002 with $84,201,000 (42 percent above last year) in net earnings or $1.25 per share (13 percent above last year). These are the highest quarterly earnings and EPS ever recorded by the company.

This compares to $59,193,000 in net earnings or EPS of $1.11 for the fourth quarter of 2001. This improvement is attributable to the Dal-Tile merger, internal growth of Mohawk products, manufacturing cost improvements and efficiencies in selling, general and administrative costs, according to Mohawk.