Mohawk Industries Wood Flooring Sales Rose 41 Percent
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Mohawk Industries Wood Flooring Sales Rose 41 PercentCALHOUN, GA -- Mohawk Industries, Inc. (NYSE: MHK) laminate and wood segment net sales for the quarter were $466 million, up 41% over last year, with most of that increase from growth in the U.S. and the acquisitions of Pergo and Spano. 

Mohawk says its acquisitions of the Unilin and Pergo laminate businesses have been fully integrated. Unilin announced yet another acquisition in January 2014 of Magnum Parket, which began producing engineered 3-layer wood in 1998 in Vyṧkov in the Czech Republic.

Mohawk says its U.S. wood business grew significantly along with new home sales.

European wood flooring sales were flat, however, as consumers move to luxury vinyl. Mohawk also sells that and is opening a new plant for it in Europe. A Spano manufacturing facility was closed during the quarter and production was shifted into other operations.

Mohawk Industries Wood Flooring Sales Rose 41 Percent Overall Mohawk reported 2013 fourth quarter net earnings of $95 million on sales of approximately $1.9 billion, an increase of 34%. For the year ending December 31, 2013, net sales were approximately $7.3 billion, up 27%. Net earnings were $349 million.

"Our fourth quarter results were better than projected primarily as a result of higher top-line growth in our U.S. ceramic business, a strong performance from our Pergo acquisition and lower interest expense," said Jeffrey S. Lorberbaum, CEO, in announcing the results.

Sales for carpeting grew just 3%; while sales for vinyl floor covers rose 84%.

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