Earnings report: American Woodmark Corp., Winchester
THE TAKE: Cabinet and vanity manufacturer American Woodmark Corp. improved its second-quarter profit, led by sales growth in new construction of more than 40 percent. The Winchester-based company saw revenue grow by 24 percent during the quarter and reported a $1.95 million profit, compared with a $2.98 million loss during the same period last year.
THE NUMBERS:
Revenue: Net sales rose 24 percent to $159.8 million, compared with $128.4 million the prior year
Net income: $1.95 million, compared with a $2.98 million loss in the second quarter of 2011
Earnings per share: 13 cents per diluted share, compared with a loss of 21 cents per share
Special items: $100,000 in restructuring charges related to the closure of two manufacturing plants in April and May 2012. This affected earnings by one cent per share.
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