After seeing sales and profits slip in early 2017, Armstrong Flooring Inc. is heading up in the first half of 2018.
The flooring products manufacturer had sales of $563.9 million for the first six months of 2018, up slightly from $562.5 million for the same period in 2018, according to a quarterly filing with the U.S. Securities and Exchange Commission.
Armstrong eked out net income of $100,000 for the first half of 2018, up from a loss of $2.4 million for the same period last year.
“I am very proud of the Armstrong Flooring team as we delivered both top and bottom line growth in the second quarter, building on our strong start in Q1,” Armstrong CEO Don Maier said in a statement.
The gains were driven largely by the company’s resilient flooring segment, which includes vinyl and luxury vinyl tile flooring.
Luxury vinyl tile, the company noted, has been selling especially well. But the company also said it is facing higher costs for raw materials, energy and transportation.
The resilient flooring segment saw sales of $363.4 million for the six months ending June 30, up from $348.3 million for the same period last year. Operating income dropped to $5.6 million for 2018’s first half, down from $9.5 million in the first half of 2017.
The wood flooring segment, in contrast, saw sales slip to $200.5 million for the first half of 2018, down from $214.2 million for the first half of 2017. The segment’s operating income, however, improved, jumping from a loss of $6.8 million in the first half of 2017 to a loss of $500,000 for the first half of 2018.
The company last year said it was closing two plants that make wood flooring, in Vicksburg, Mississippi, and Jackson, Tennessee, idling roughly 300 employees, according to the SEC filing.
The company, based in Manor Township, Lancaster County, also has been retooling its marketing and distribution strategy, an effort that has eliminated 110 positions over the last year.