Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Interface 3rd quarter sales fall by 21.6%

Wednesday 28 October 2009

Interface sales for the third quarter of 2009 were $218.4 million, compared with sales of $278.4 million in the third quarter of 2008, a decline of 21.6%. Approximately 3% of the sales decline was related to fluctuations in currency exchange rates relative to the year ago period. On a sequential basis, sales increased 3.3% over sales of $211.3 million in the second quarter of 2009. Operating income for the 2009 third quarter was $18.9 million, or 8.7% of sales, compared with operating income of $31.0 million, or 11.1% of sales, in the third quarter of last year. Operating income improved 13.0% over second quarter 2009 adjusted operating income of $16.8 million, or 8.0% of sales. Unadjusted, operating income in the second quarter of 2009 was $20.9 million, or 9.9% of sales.
Net income attributable to Interface, Inc. for the 2009 third quarter was $5.5 million, or $0.09 per diluted share, compared with $8.4 million, or $0.13 per diluted share, in the year ago period. Included in the company\'s results for the third quarter of 2008 was a previously announced after-tax loss from discontinued operations of $5.2 million, or $0.08 per diluted share.
\"We saw steady sequential improvement in our business in the third quarter despite the challenging market conditions,\" said Daniel T. Hendrix, President and Chief Executive Officer. \"Demand for modular carpet in the education, retail and government sectors held up well, offsetting in part the continuing softness in the corporate office segment. Geographically, our business in the Americas has been remarkably resilient, due primarily to our focus on non-office segments. Our business in Europe continued to struggle with the poor economy, but in an encouraging sign orders exceeded sales for the quarter. Asia-Pacific remains tepid overall, as multinational corporate customers have not yet returned to the market. However, Australia has been turning around and we\'re beginning to see a firming pipeline of orders in China. While the global economic environment continues to be difficult, we feel we\'ve made the appropriate restructuring decisions and investments in our business, and continue to gain share as a leader in the carpet tile market.\"

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.



moreLatest News

Thursday 31 August 2017 Chinese furniture supplier to create 122 new jobs, invest $4.9M in West Michigan

GRAND RAPIDS, MI - A Chinese company that makes office furniture components is planning to build a n

Tuesday 15 August 2017 HON office furniture invests $14.5 million in expansion, creates 60 jobs

CEDARTOWN, Ga. - Office furniture manufacturer HON Company will invest $14.5 million in an expansion

Wednesday 9 August 2017 Martela Corporation Half Year Financial Report 1 Jan - 30 June 2017

The January-June 2017 revenue and operating result declined from the comparison period. Decline in r

Wednesday 9 August 2017 Former Herman Miller CEO Max De Pree dies at 92

Known as an accomplished author, businessman and man of Christian faith, De Pree served as CEO for t

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England

+44 (0) 20 7670 1510