American Woodmark sales drop 20 percent
- June 4, 2010
American Woodmark Corp.’s sales dropped 20 percent in the fourth quarter.
The Winchester-based company reported sales of $112.4 million in its quarter ending April 30, compared to $140.7 million during the same period last year. For its fiscal year, sales fell 25.5 percent to $406.5 million.
American Woodmark said it had a loss of $1.5 million for the fourth quarter, compared with a loss of $2.9 million during the same period last year. The quarterly loss narrowed primarily because of lower restructuring expenses. During the fourth quarter of last year, the company announced it would close two plants, stop operations at one of its plants and lay off employees.
For the year, the company reported a loss of $22.3 million, compared with a loss of $3.2 million in its fiscal year 2009.