Interceramic's consolidated sales for 2003 were $306.4 million, up 2.14 percent from sales of $300 million in 2002 -- a record high for the company but below the company's expectations for the year. The growth in sales was largely offset by increases in certain components of the cost of goods sold, as well as by lower price levels.
Interceramic's gross margin for 2003 of 34.7 percent was 2.3 points lower than gross margin of 37 percent in 2002.