- THE MAGAZINE
Results for the first nine months of 1999 included an after-tax gain of $4.4 million from discontinued operations. Including this gain, net income for the 1999 period was $14.1 million, or $1.20 per diluted share.
While net sales were $142.6 million in the third quarter of both 2000 and 1999, carpet manufacturing sales improved 10% and base materials sales declined 40% during the most recent quarter. Year-to-date sales were $414.8 million in 2000, a 5% decline compared with sales of $435.9 million for the first nine months of 1999. During the nine-month period ended September 30, 2000, carpet manufacturing sales improved 5% and base materials sales declined 39%. Improved carpet manufacturing sales reflect strong growth in the Company's high-end residential, commercial and home center business and the acquisition of Fabrica International at the end of the second quarter 2000. These increases more than offset lower sales to the factory-built housing industry. Base material sales declined in 2000 due to greater internal uses of yarn and the sale of a yarn manufacturing plant in July 1999.