Commercial flooring company Interface, Inc. (TILE) Friday announced an 8.3 percent decline in first quarter earnings, despite 2.6 percent increase in sales, compared to the prior year.
Quarterly earnings were $13. million, down from $14.2 million a year ago. On a per share basis, earnings were $0.22, lower than 0.24 reported last year. On an adjusted basis, earnings were $0.25, while it was $0.24 in the prior year.
On average, analysts expected the company to earn $0.21 per share. Analysts estimates usually exclude special items.
Net sales for the quarter increased to $297.4 million, from $289.7 million last year. Wall Street is looking for $297.11 million.
Looking ahead to the second quarter, net sales are projected in a range of $355 - $365 million. Analysts projects sales of $354.37 million.
For the fiscal 2025, the company now expects net sales between $1.340 and $1.365 billion, while the previous projection was between $1.315 and $1.365 billion. Street estimates is $1.34 billion.
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