The Dixie Group Reports Second Quarter 2013 Results

The Dixie Group, Inc. (NASDAQ:DXYN) reported financial results for the second quarter ended June 29, 2013. In the second quarter of 2013, the Company had sales of $83,617,000 and income from continuing operations of $1,677,000, or $0.13 per diluted share, compared with sales of $66,566,000 and a loss from continuing operations of $404,000, or $0.03 per diluted share for the second quarter of 2012.

Commenting on the results, Daniel K. Frierson, chairman and chief executive officer, said, “The second quarter was one of strong performance both residentially and commercially. Dixie had a year-over-year sales improvement of 26% with sales growth in all areas of the business. Our sales growth in the residential business was 27% as compared to the same period a year ago. We believe the residential market grew during the quarter in the high single digits with the market strengthening as the quarter progressed. It appears that the residential carpet market is now being positively impacted by the increase in the housing sector that began in 2012. Sales for our commercial products increased 21% versus the second quarter of 2012. This increase was in comparison to the commercial market being up only slightly in our estimation.