Ceramic Industry News

Mohawk Announces Third Quarter Results; Dal-Tile Sales Jump 11%

November 10, 2011
/ Print / Reprints /
ShareMore
/ Text Size+

Mohawk Industries Inc. recently announced 2011 third quarter net earnings of $47 million and adjusted net earnings of $57 million. For the third quarter of 2010, net earnings were $51 million; net sales were $1.4 billion, an increase of 10% as reported and 8% with a constant exchange rate. For the nine months ended October 1, net sales were $4.3 billion, an increase of approximately 5% as reported and 4% with a constant exchange rate. For the nine-month period, net earnings were $131 million.

Net sales in the Dal-Tile segment grew almost 11% during the period, with both residential and commercial categories showing gains and product mix continuing to decline. In the comparable 2010 period, business was lower than expected due to flooding in the company’s Mexican facility from Hurricane Alex. During the 2011 quarter, sales increased in all channels, with particular strength in home centers due to additional commitments for the company’s mosaics, wall tile and porcelain tile. Mexican ceramic sales grew significantly on a local basis as new products and broader distribution were implemented.

“The company’s third quarter results reflect an improvement in sales and earnings over last year, even with increased raw material costs and consumer reluctance to invest in renovation projects,” said Jeffrey S. Lorberbaum, chairman and CEO. “Sales in both the residential and commercial categories expanded with commercial renovation leading the growth and new residential continuing to lag. Each segment continues to lower costs with new processes, reduced infrastructure and investment in more efficient assets.”

For more information, visit www.mohawkind.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px