Congoleum posts income gains in Q1: "We remain focused on improving efficiencies"

Congoleum Corp. posted several gains in the first quarter of 2006, including a net income of $211,000 (versus a $352,000 net loss in the first quarter of 2005), and a net income of $.03 per share (versus a net loss of $.04 per share in the first quarter of last year). Despite the strong growth in income, sales for the first quarter of 2006 dipped 0.7 percent to $57.2 million compared to $57.6 million in the first quarter of last year.

Roger S. Marcus, Congoleum's chairman of the board, said the slight dip in sales was partly due to "our largest distributor reducing its inventories of our products by $3.2 million in the first quarter of this year as part of an overall inventory reduction program."