WESTPORT, CT - Compass Diversified Holdings, the parent company of American Furniture Manufacturing, reported net income of $262.5 million for the third quarter of 2014.
The quarter was driven primarily by revenue and operating income growth from American Furniture Manufacturing and Advanced Circuits. Net income for the quarter was $262.5 million, as compared to net income of $78.3 million for the same quarter in 2013. In its second quarter American Furniture reported a whopping 49 percent increase in sales during the second quarter, an increase of $10.4 million from the same quarter last year. Compass Diversified Holdings purchased American Furniture in 2007.
"During the third quarter, we generated operating results consistent with management's expectations, highlighting the financial strength and considerable potential of our leading family of middle-market businesses," said Alan Offenberg, CEO of Compass Diversified Holdings.
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