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Interface Q2 Profit Increases, Beats Estimates - Update

(Adds Outlook)

Interface Inc. (TILE) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $16.82 million, or $0.28 per share. This compares with $15.51 million, or $0.26 per share, in last year's second quarter.

Excluding items, Interface Inc. reported adjusted earnings of $21.1 million or $0.36 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.6% to $346.61 million from $294.79 million last year.

Outlook:

For the next quarter, the firm expects net sales of $325 million to $345 million.

For full-year, Interface anticipates net sales to be in the range of $1.3 billion - $1.325 billion, and capital expenditure of around $30 million.  

Interface Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $16.82 Mln. vs. $15.51 Mln. last year.
-EPS (Q2): $0.28 vs. $0.26 last year.
-Analyst Estimate: $0.32
-Revenue (Q2): $346.61 Mln vs. $294.79 Mln last year.

-Guidance:
Next quarter revenue guidance: $325 - $345 Mln
Full year revenue guidance: $1.3 - $1.325 Bln

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