Joe, do you still follow MHK? I've got May 95 puts and, I'm happy to say, they just warned-
Mohawk Industries lowers first-quarter profit view
March 30, 2006 16:25:21 (ET)
NEW YORK, March 30 (Reuters) - Carpet and floor covering maker Mohawk Industries, Inc. (MHK,Trade) on Thursday lowered its first-quarter earnings estimate, citing higher accounting charges and lower sales growth in one of its businesses.
The Calhoun, Georgia-based company said it now expects earnings per diluted share to be in the range of $1.03 to $1.05. Analysts on average currently expect $1.22 per share, according to Reuters Estimates.
Mohawk said the LIFO (Last In, First Out) accounting charge for its Mohawk segment is estimated to be $13 million to $15 million this quarter, compared with $6 million for the prior year.
It also anticipated a greater improvement in sales and margins as the quarter progressed than was achieved in the Mohawk segment with sales growth of approximately 5 percent in the period.