Everyone knows the carpet industry has been hammered by the on-going recession. Speaking to Kemp Harr of Floor Focus Magazine, a good source of information, Dixie Group's CEO Dan Frierson says 2011 was the first profitable year since the down turn began in 2008. Dixie Group's Income was $1,466,000, or $0.12 per share.
In their press release Mr. Frierson said, "Since the bottom of the downturn in 2009, Dixie’s sales are up 33% while the industry is up less than 5%. This is further evidence that the luxury end of the market is returning faster than the overall soft floorcovering market. For 2011, Dixie’s total carpet sales were up about 15% while the industry was up in the low single digits."
Congratulations to Mr. Frierson and his entire organization. They are one of the "good guys" of the carpet industry and deserve every bit of this good news.
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