ICS Magazine

Carpet maker Mohawk third-quarter profits rise

October 20, 2003
LOS ANGELES, Oct 16 (Reuters) - Mohawk Industries Inc., the No. 2 maker of commercial and residential carpets in the United States, on Thursday said its third-quarter profit rose 12 percent due to higher tile sales and and lower interest costs.

Calhoun, Georgia-based Mohawk said it earned $91.4 million, or $1.36 per share, up from $81.6 million, or $1.21 a share, a year earlier. Sales rose 6 percent to $967 million.

Analysts on average expected a profit of $1.35, according to Reuters Research, a unit of Reuters Group Plc. In July, the company had forecast earnings from $1.25 to $1.35 a share.