Interface (TILE) Tops Q3 EPS by 1c, Revenues Beat

Interface (NASDAQ: TILE) reported Q3 EPS of $0.41, $0.01 better than the analyst estimate of $0.40. Revenue for the quarter came in at $318 million versus the consensus estimate of $314.32 million.

"We continued to see strong top line momentum in the third quarter, delivering year-over-year net sales growth of 24% and organic growth of 9%. On the bottom line, GAAP EPS, which included nora acquisition purchase accounting items and transaction related expenses, was down 56%, but excluding those items, we delivered an impressive adjusted EPS growth of 28% year-over-year. This momentum was fueled by our core carpet tile business, an accelerating LVT business, and the completion of our acquisition of nora systems,\" said Jay Gould, CEO of Interface. "And while gross margins were down slightly, we remain confident in achieving our 2018 objectives, and that our value creation strategy is working."

For earnings history and earnings-related data on Interface (TILE) click here.

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