MERCERVILLE, N.J. -- Congoleum Corp. reported a 19.1 percent decline in net income for this year’s second quarter and a $2 million net loss. The quarter’s net sales of $55 million compare with sales of $68 million in the second quarter of 2002. The company’s net quarterly loss of 24 cents per share compares with net income of $800,000,or 10 cents per share, during last year’s second quarter.
Sales for the six months ended June 30 were $108.6 million, compared with sales of $125.9 million reported in the first six months of 2002, a decrease of 13.8 percent. The net loss for the same period was $4.6 million, or 55 cents per share, vs. net income (before a required accounting change) of $200,000, or 2 cents per share, in the first six months of 2002.