Interface Q3 Adj. Profit Declines; Net Sales Down 5.1%

(RTTNews) - Interface, Inc. (TILE) reported third quarter net income of $9.9 million, or $0.17 per share, compared to $14.1 million, or $0.24 per share, prior year. Adjusted net income was $16.4 million, or $0.28 per share, compared to $17.4 million, or $0.30 per share. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.26, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $311.0 million, down 5.1% from prior year period. Analysts on average had estimated $324.75 million in revenue.

For fiscal 2023, Interface anticipates net sales of $1.245 billion to $1.265 billion.

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