Armstrong World Industries Q2 Profit Falls - Quick Facts

(RTTNews) - Armstrong World Industries, Inc.'s (AWI) second-quarter 2013 reported net earnings dropped to $29.9 million, or $0.50 a share, from last year's $41.8 million, or $0.70 a share. On an adjusted basis, quarterly net income was $37 million, or $0.62 a share. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.64 for the quarter. Analysts' estimates typically exclude one-time items.

However, consolidated net sales increased about 5% to $706.6 million, from $675.4 million in the prior-year period, helped by higher volumes in Wood Flooring and in Building Products across all geographies. Analysts estimated revenues of $693.17 million for the quarter. On a consolidated level, price and mix were both positive. Also, sales were hurt by approximately $10 million due to the sale of the Patriot wood flooring distribution business in the 2012 third quarter.