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[November 2004]
Mohawk Industries Third Quarter Report
Mohawk Industries, parent company of Dal-Tile, reported net earnings of US$112.687 million for the third quarter of 2004, 23% above the third quarter of 2003. Net sales for Q3 2004 amounted to US$1.531 billion compared to US$1.303 billion in Q3 2003. The Dal-Tile segment net sales of US$400.229 million in Q3 2004 grew 19% from US$335.761 million, primarily from internal growth.
Jeffrey Lorberbaum, Chairman and CEO, said: "We are pleased with our results in this uncertain economic environment. Our sales in both business segments reflected year over year gains. The Mohawk segment residential replacement business, residential new construction business, and hard surface product offerings all continued their improvement. Sales in the Mohawk commercial category reflected increases over last year.
"The Dal-Tile segment sales momentum continues in all product categories with floor tile and stone products leading the others. We believe investments to update the service centers, add sales representatives and increase service levels are continuing to generate gains in market share. The new Muskogee, Oklahoma porcelain tile facility is running well at approximately 90% capacity and should be at capacity by year-end."
ENDS