MERCERVILLE, N.J. -- Congoleum Corp. has reported losses for the fourth quarter and full year ended Dec. 31, 2000. These financial results include non-recurring costs associated with the previously announced termination of the company’s distribution pact with LDBrinkman, and the related startup of a new distributor, Mohawk Industries.
Congoleum recorded a charge of $7.7 million before taxes in the fourth quarter of 2000 for expenses arising from these changes. A provision for a future return of inventory reduced fourth quarter sales by $4.0 million and reduced earnings before taxes by an additional $1.3 million.