Mohawk Industries (Calhoun, Ga.) today announced net earnings of $70.3 million during the third quarter of 2012, a 47.3 percent increase from the company's profits during the same period in 2011, when it earned $47.7 million.
Mohawk had net sales of $1.5 billion during the quarter ended Oct. 1., marking a 2.1 percent improvement from net sales of $1.4 billion during the same period last year. The company's Unilin segment-which includes wood flooring, as well as other offerings-saw net sales of $328,582, about 0.3 percent less than its net sales of $329,514 during the same period in 2011.
In its earning release, the company noted that its North American laminate and wood products sales during the quarter grew in all customer channels. Outside North America these same types of sales grew due to expansion into the DIY channel.
"All of our segments delivered solid third quarter performances with improvements in product mix, pricing, volume and productivity, as well as lower interest expense contributing to our results," said Jeffrey S. Lorberbaum, the company's chairman and CEO. "Mohawk's strong financial position provides us with the flexibility to pursue strategic opportunities such as the recently announced agreement to acquire Pergo, the most recognized brand of premium laminate flooring in the U.S. and Europe."
