Dixie Group soars 21% after topping Q2 earnings per share estimates
The Dixie Group Inc. (Nasdaq:DXYN) has soared 21% today after the company reported ahead of the opening that its second-quarter earnings had beat Wall Street estimates. For the quarter ended June 28, net income was $1.28 million, or $0.10 per share, compared with $2.55 million, or $0.20 per share, from the same quarter a year earlier. Sales declined 9% to $77.2 million. Despite the drops, the Chattanooga, Tenn.-based company’s results beat analysts’ earnings per share views; Wall Street was expecting earnings per share of $0.07 on revenues of $77.4 million.
The company said rising raw material and energy-related costs sliced into their margins and helped drag down second-quarter results. At 10:07 a.m. ET, shares are at $5.75, up $1 from Monday’s close. Shares have ranged from $4.61 to $12.31 during the past year.
For detailed price information and recent news stories about The Dixie Group Inc., click DXYN.
The company said rising raw material and energy-related costs sliced into their margins and helped drag down second-quarter results. At 10:07 a.m. ET, shares are at $5.75, up $1 from Monday’s close. Shares have ranged from $4.61 to $12.31 during the past year.
For detailed price information and recent news stories about The Dixie Group Inc., click DXYN.
About the Author
Reporter Dianna Heitz is based in SmallCapInvestor.com's Washington, DC bureau.
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