Interface Swings To Profit In Q4

(RTTNews) - Commercial flooring company Interface, Inc. (TILE) reported Tuesday net income for the fourth quarter of $19.56 million or $0.33 per share, compared to a net loss of $24.62 million or $0.42 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.41 per share, compared to $0.31 per share in the year-ago quarter.

Net sales for the quarter declined 3.1 percent to $325.12 million from $335.56 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share on revenue of $321.8 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company expects net sales between $280 million and $290 million for the first quarter and between $1.26 billion and $1.28 billion for the full-tear 2024. The Street is looking for revenues of $286.90 million for the quarter and $1.26 billion for the year.

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