Interface (TILE) Misses Q1 EPS by 3c
Interface (NASDAQ: TILE) reported Q1 EPS of $0.11, $0.03 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $210.4 million versus the consensus estimate of $223.81 million.
"Even though the first quarter is seasonally our slowest period, our Americas division jumped out to a strong start by posting a record number for first quarter sales," said Daniel T. Hendrix, Chairman and Chief Executive Officer of the Company. "The revenue gains in the Americas and a double-digit percentage sales increase in Southeast Asia were offset by weak sales in Europe due to a combination of continued economic uncertainty and unusually bad weather in the U.K. at the end of the quarter, and by the impact of the fire at our Picton, Australia plant last summer. Despite the general malaise in Western Europe, our European division maintained a healthy operating margin, and our supply chain and lead times for servicing Australia are stabilizing in advance of commissioning our rebuilt plant later this year."
For earnings history and earnings-related data on Interface (TILE) click here.
"Even though the first quarter is seasonally our slowest period, our Americas division jumped out to a strong start by posting a record number for first quarter sales," said Daniel T. Hendrix, Chairman and Chief Executive Officer of the Company. "The revenue gains in the Americas and a double-digit percentage sales increase in Southeast Asia were offset by weak sales in Europe due to a combination of continued economic uncertainty and unusually bad weather in the U.K. at the end of the quarter, and by the impact of the fire at our Picton, Australia plant last summer. Despite the general malaise in Western Europe, our European division maintained a healthy operating margin, and our supply chain and lead times for servicing Australia are stabilizing in advance of commissioning our rebuilt plant later this year."
For earnings history and earnings-related data on Interface (TILE) click here.