Interface Results Top Estimates

(RTTNews) - Interface Inc (TILE), a maker of modular carpet products, on Wednesday reported first-quarter net earnings of $12.3 million or $0.19 per share compared with $4 million or $0.06 per share last year.

Revenues for the quarter were up 8.2% at $237 million compared with $219 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.15 per share on revenues of $230 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin improved 200 basis points from last year, mostly due to better manufacturing throughput, enhanced efficiencies and lower raw material costs, the company said.

Operating margin improved to 9% from 5.5% last year.

Going forward, the company exuded optimism for growth, while cautioning of currency headwinds, partly mitigated by lower raw materials costs.