Chattanooga based carpet maker reports first quarter loss
CHATTANOOGA, TN. (Times Free Press) -- Chattanooga-based carpet maker Dixie Group Inc. reported a first quarter loss Monday after a drop in its commercial business compared to last year.
The company posted sales of $62.8 million, up 2.6 percent after adjusting for the 13-week period this year versus the 14-week period last year, Dixie said in a news release.
But, Dixie reported a loss from continuing operations of $104,000, or 1 cent per diluted share, compared with income of $644,000, or 5 cents per diluted share, for the first quarter of 2011.
Daniel K. Frierson, chairman and chief executive officer, said in a statement the first quarter typically is the slowest and most difficult one for the business.
Read more on the story from our news partners at the Chattanooga Times Free Press.