Mohawk Industries (Dallas) announced its first-quarter net income was $81 million, an increase of more than 38 percent over last year's first-quarter net income of $50 million.
Mohawk Industries (Dallas) announced its first-quarter net income was $81 million, an increase of more than 38 percent over last year's first-quarter net income of $50 million.
"First quarter earnings were higher than expected due to our 2013 acquisitions, improved productivity across our business and stronger results outside North America, although severe winter weather in the U.S. impacted sales," said Jeffrey Lorberbaum, Mohawk's chairman and CEO, in a statement.
The company's net sales were about $1.8 billion, an increase of 22 percent from last year's $1.5 billion. Earnings per share in the first quarter increased 41 percent versus last year's figure to $1.23.
Mohawk's laminate and wood segment saw net sales of $468 million, a 16 percent increase over the prior year.