Armstrong World Industries earned $31.8 million in profit in the third quarter of 2014, a 43.1 percent decrease from the third quarter of 2013 ($55.9 million), according to the company’s third quarter results.
Net sales for the quarter did not move much year-over-year, coming in at $728.3 million this year compared with $729.7 million last year. Diluted earnings per share dropped 39.4 percent, from $0.94 in the third quarter last year to $0.57 in the third quarter this year.
The company’s wood flooring division recorded lower sales this year than last year, $137 million for the third quarter versus $148 million. The company said results were impacted by $4 million of severance and other charges associated with the closure of a wood flooring plant in Kunshan, China.
