Mohawk announces record Q3 net earnings
This report compares to EPS of $0.87 per share or $46,408,000 in net earnings for the third quarter of 2000 before a pre-tax charge of $7,000,000 related to an antitrust litigation settlement. The improvement in EPS was the result of increased sales, reduced interest costs and an adjustment to reduce the effective income tax rate for tax credits.
Net sales for the quarter increased 4% to a record $869,666,000. The sales increase was attributable to the sales growth in soft non-carpet products and hard surface products offset by a small reduction in carpet sales.
Jeffrey S. Lorberbaum, president and CEO, noted strong sales growth in the company's soft non-carpet products.