Resilient sheet and tile manufacturer Congoleum Corp. reported declining sales and a widening net loss for the first quarter ended March 31, 2001 and announced that it had fired 150 employees to save the company $1 million per month.
Polyurethane and advanced polymer foam product manufacturer Foamex International Inc. reported 2001 first quarter net sales of $301.9 million, a decrease of 8.3% over the $329.1 million reported in the prior year period.
Armstrong Holdings Inc. reported that first quarter 2001 net sales of $716.5 million from continuing operations were 2.6% lower than in the first quarter of 2000.
The Dixie Group Inc. reported a net loss of $2.7 million, or 24 cents per diluted share, for the first quarter ended March 31, compared with a net loss of $1.2 million, or 10 cents per diluted share, for the first quarter of 2000.
U.S. construction spending rose in March for the fifth consecutive month, led by increases in non-residential building activity, according to a report released by the Commerce Department.
The U.S. economy grew at a faster-than-expected 2% annual rate in the first quarter, as a rise in consumer spending outweighed drops in business investment and inventories.
Spurred by lower mortgage rates, sales of new U.S. homes rocketed to a record rate and existing U.S. homes rose to their second-highest rate on record in March, according to separate reports released by the U.S. Commerce Department and National Association of Realtors (NAR).
RSS