Second-quarter loss narrows at American Woodmark
- November 22, 2011
Winchester-based American Woodmark Corp. reported a second-quarter loss of nearly $3 million despite a 19 percent increase in sales.
The company had a net loss of $2.98 million, or 21 cents per diluted share, during the three-month period ending Oct. 31.
The results were a $4.4 million improvement over last year’s second quarter when the company had a loss of $7.38 million, or 52 cents per share.
For the first six months of the fiscal year, American Woodmark generated a net loss of $5.69 million, 40 cents per share, compared with a net loss of $10.8 million, 76 cents per in the same period of the year before.
Net sales rose during the second quarter rose 19 percent $128.4 million and were up 20 percent during the six-month period to $259.6 million.
Gross profit for the second quarter of fiscal year 2012 was 12.5 percent of net sales, up from 9.1 percent in the same quarter last year.
American Woodmark manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets.