During the first quarter of 2011, net sales in Armstrong World Industries' (Lancaster, Pa.) wood flooring segment fell 10.7 percent to $111 million from $124.3 million in the same quarter last year; however, the segment posted a profit of $3.5 million, whereas last year during the first quarter it lost $1.6 million. Armstrong attributed the sales decline to decreased demand in U.S. residential markets, and it attributed the increased income partly to reduced manufacturing costs, including layoffs, a plant closing, and a distribution center closing.
During the first quarter of 2011, net sales in Armstrong World Industries' (Lancaster, Pa.) wood flooring segment fell 10.7 percent to $111 million from $124.3 million in the same quarter last year; however, the segment posted a profit of $3.5 million, whereas last year during the first quarter it lost $1.6 million. Armstrong attributed the sales decline to decreased demand in U.S. residential markets, and it attributed the increased income partly to reduced manufacturing costs, including layoffs, a plant closing, and a distribution center closing.
Across all of its segments, Armstrong increased its net sales 4 percent to $685.2 million from $658.9 million. As a result, its net income rose considerably; in 2010 during the first quarter the company lost $19.4 million, whereas this quarter it earned $13.5 million.
