Armstrong World Industries has reported a fourth quarter operating income from continuing operations of $35.9 million, down 17% over the 2013 period impacted by a non-cash intangible asset impairment charge of $10 million, according to the company.
"We delivered fourth quarter and full year results within our guidance range when adjusting for the exit of our European flooring business," said Matt Espe, CEO. "Our worldwide ceilings business delivered yet another record quarterly and full year earnings result despite the slow pace of the recovery. As we separately disclosed, I'm also pleased to announce that our board has unanimously approved a plan to separate Armstrong into two independent industry-leading public companies, which we believe will enhance the strategic, operational and financial flexibility of both businesses and create value for our shareholders."