Interface EPS, before restructuring expenses, up for Q4 and year
ATLANTA -- Interface Inc. said that for the fourth quarter of 2000, the company reported net income of $9.9 million, or 19 cents per diluted share (before non-recurring restructuring charges), which represents an increase of 56% compared with net income of $6.4 million, or 12 per diluted share, in the same period a year ago.
Also during the fourth quarter, Interface recognized an additional $1 million of restructuring expense associated with the initiatives disclosed in the first quarter of 2000, and finalized at approximately $21.0 million for the year the previously estimated restructuring charge. Including the additional $1 million of non-recurring, pretax restructuring expense (amounting to 1 cent diluted share after tax), net income for the fourth quarter of 2000 was $9.3 million, or 18 cents per diluted share. Sales for the fourth quarter improved by 6% to $330.3 million from $310.7 million in the fourth quarter of 1999.