The Dixie Group Reports First Quarter 2013 Results

The Dixie Group, Inc. (NASDAQ:DXYN) reported financial results for the first quarter ended March 30, 2013. In the first quarter of 2013, the Company had sales of $75,440,000 and income from continuing operations of $651,000, or $0.05 per diluted share, compared with sales of $62,851,000 and a loss from continuing operations of $104,000, or $0.01 per diluted share for the first quarter of 2012. The sales increase as compared to the year ago period was 20%.

Commenting on the results, Daniel K. Frierson, chairman and chief executive officer, said, "The first quarter typically is the slowest and most difficult quarter for our business. However, Dixie had a year-over-year sales improvement of 20% with sales growth in all areas of the business. Our sales growth in the residential business was 21% higher than the same period in the prior year with notable growth in our mass merchant area. We believe that the residential market, in contrast, grew in the low single digits. Our commercial business increased 13% with particularly strong growth in our modular carpet tile area. This increase was in comparison, we believe, to low single digit growth in the commercial market.