Mohawk Sales Up; Dal-Tile Sales Grow 9% in Third Quarter
Mohawk Industries Inc. recently announced 2012 third quarter net earnings of $70 million. Net sales for the third quarter of 2012 were $1.5 billion, an increase of 2% vs. the prior year.
Dal-Tile sales grew 9% during the quarter, or 10% on a constant exchange rate. The segment reportedly improved sales in both residential and commercial categories, and continued significant growth in the Mexican market. Operating margins were reportedly enhanced from actions that improved productivity and increased yields. Sales grew across all residential channels, supported by the company’s new Reveal Imaging designs, mosaics and larger format tiles that are aligned with today’s decorating trends.
“All of our segments delivered solid third quarter performances with improvements in product mix, pricing, volume and productivity, as well as lower interest expense contributing to our results,” said Jeffrey S. Lorberbaum, chairman and CEO. “Across the enterprise, we have managed to keep SG&A dollars in line with last year, even as we invested significantly more in new product innovations and marketing to improve our future sales and product mix.”
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