Dixie Group Shares Rise 16% After Higher Sales Lead to 2Q Profit
10:54 am ET August 5, 2021 (Dow Jones) Print
By Chris Wack
Dixie Group Inc. shares rose 16% to $3.14 after the company reported a second-quarter profit on much higher sales.
The home furnishing company reported second-quarter earnings of $3.3 million, or 21 cents a share, compared to a loss of $7 million, or 47 cents a share, in the same period a year ago.
Sales for the quarter came in at $104.8 million, compared to last year's 60.1 million.
Dixie Group said sales of its residential floorcovering products rose 99%, due to a recovery after Covid-19 pandemic and strong growth in new and existing home sales. Sales volume in commercial markets has improved, but continues to be at lower levels.
The company said a ransomware attack in mid-April impacted operations and communications.
Write to Chris Wack at chris.wack@wsj.com
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