Foamex announces second quarter results
Net sales for the quarter were $314.3 million, a decrease of 2.6 percent from $322.7 million reported in the prior-year period. The net sales decrease reflects an increase in automotive products sales, offset by declines in foam products, carpet cushion and technical products.
Gross profit for the quarter was $49.5 million, an increase of 3.5 percent over $47.8 million in the second quarter of 2000.
For the six-months that ended June 30, 2001, net sales were $616.2 million, a 5.5 percent decrease from $651.8 million in the prior-year period. Gross profit was $91.7 million, or 14.9 percent of sales, compared with $90.7 million, or 13.9% of sales, in the first half of 2000.
In July, Foamex announced the acquisition of certain assets of General Foam Corporation, a manufacturer of polyurethane foam products for the automotive, industrial and home furnishings markets.