Dixie Group Q2 Profit Holds Steady at $1.09M, Margin Inches Up
DXYN sits 83% above its 52-week low of $0.2.
Summary
Dixie Group posted Q2 net income of $1.09 million, or $0.07 per share, on flat sales of $68.6 million. Gross margin improved to 29.5% from 29.2% a year ago, driven by cost reductions and favorable pricing under its Profit Improvement Plan. The company expects the plan to deliver $17 million in annual savings. Management flagged continued softness in home resale and remodeling, but highlighted strength in higher-end decorative products and the Fabrica wood program. The quarter included 14 new carpet style launches, with more product introductions planned for Q3.
At the time of this announcement, DXYN was trading at $0.37 on OTC in the Manufacturing sector, with a market capitalization of approximately $5.2M. The 52-week trading range was $0.20 to $0.75. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.