WINCHESTER, Va. - Cabinetry manufacturer American Woodmark Corp. sales increased 16 percent third quarter, to $218.6 million, pacing ahead of the first nine months, of the year, which rose 14 percent to $706 million.
Manufacturing kitchen cabinets and vanities at seven factories, American Woodmark sells its brands through big chain home improvement retailers, cabinet dealers and designer, and to home builders for new construction. American Woodmark says all channels experienced growth during the third quarter of fiscal year 2016.
Its brand Shenandoah Cabinetry is sold through Lowe's; American Wodmark Cabinety is sold through Home Depot; and Tmberlake Cabinetry is sold through home builders and distributors. Waypoint Living Spaces cabinets and vanities are sold through sold through kitchen and bath dealers and designers.
American Woodmark sales and service operations
Net income was $12 million, up $7.3 million for the third quarter, a 72 percent increase. Net income for the first nine months of 2016 was $45.4 million, an 87 percent increase, indicating that manfuacturing oeprations have reach profitable volume levels. American Woodmark lists 79 job opening across its U.S. locations.
In its SEC filing, American Woodmark said its Waypoint brand represented approximately 9 percent of its overall sales, but that it grew by more than 25 percent during the third quarter and 30 percent during the first nine months of fiscal 2016. "Management believes that the Company has improved market share within the dealer channel while maintaining market share within big box retailers. However, we understand big box home improvement retailers have lost market share to other channels, primarily independent dealers due to the more affluent nature of their customer base."
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