Floor covering products company Mohawk Industries Inc. (MHK) Thursday reported first-quarter net income of $50.5 million or $0.72 per share, compared to $40 million or $0.58 per share last year.
Excluding items, adjusted earnings for the reporting quarter were $61 million or $0.87 per share.
Revenues for the quarter were up 5.5% at $1.486 billion, compared to $1.41 billion a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.85 per share on revenues of $1.53 billion for the quarter. Analysts' estimates typically exclude special items.
"Improvements in the U.S. market, product mix, productivity improvements, lower amortization and the Pergo acquisition all contributed to our results, offset by the negative impact of a slower European economy...," said CEO Jeffrey Lorberbaum.
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