Armstrong World Industries Reports Q3 Adj. EPS From Cont. Ops. Of $0.83

(RTTNews) - Armstrong World Industries, Inc. (AWI) reported third-quarter net income from continuing operations of $31.8 million or $0.57 per share, compared to $55.9 million or $0.94 per share, last year. Adjusted net income from continuing operations was $46 million or $0.83 per share, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.78 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $728.3 million, compared to $729.7 million, a year ago. Analysts expected revenue of $727.48 million for the quarter. The company said, its consolidated net sales decreased slightly compared to the prior year period, driven by lower volumes in Europe and in Resilient and Wood flooring in the Americas, which more than offset the impact from favorable price and mix.

Armstrong expects sales to be in the range of $2.68 billion to $2.72 billion and adjusted EBITDA to be in the range of $355 million to $375 million for 2014. The company now expects 2014 adjusted EPS to be $2.00 to $2.15. Analysts expect the company to report 2014 profit per share of $2.10 on revenue of $2.72 billion.