Mohawk Industries Inc. announces record second quarter earnings per share

Mohawk Industries Inc. has announced diluted earnings per share (EPS) and net earnings for the second quarter of 2003 with a second quarter record EPS of $1.12 per share, or $74,985,000 in net earnings. This compares to EPS of $1.10 or $75,518,000 in net earnings for the second quarter of 2002. The improvement in EPS results from strong earnings in the Dal-Tile segment and lower outstanding shares due to the stock repurchase program.

Net sales for the quarter increased 2 percent to $1,247,181,000 compared to $1,227,747,000 for the second quarter of 2002. The sales increase was attributable to strong sales of hard surface products. The Mohawk segment net sales of $926,745,000 in the second quarter of 2003 were down 1 percent from $938,680,000 due to lower sales of residential replacement carpet and home products which reflected the general economic conditions.