CALHOUN, Ga. -  Flooring giant Mohawk Industries, Inc. (NYSE: MHK) reports record net earnings of $234 million on sales of $2.2 billion in the fourth quarter. 

"Our Flooring North America Segment's sales increased 10 percent," says the firm, while operating income grew 18.5 percent. 

Hard surface sales, which includes laminate, wood and vinyl, as well as the hot category of luxury vinyl tile (LVT), continued a dramatic expansion.

"Our premium laminate products with realistic visuals and proprietary water resistance continue to outperform the market," said Jeffrey S. Lorberbaum, CEO. "We are introducing more refined visuals and longer planks that replicate solid wood from our new engineered wood plant."

Flooring sales increased 14 percent outside the U.S. "Our sales growth in the period was led by LVT, laminate and insulation products. Both our sheet vinyl and wood sales were hampered by prior manufacturing disruptions, which we have overcome," Lorberbaum said.
For the year, Mohawk recorded $8.1 billion, and net earnings were $930 million. In 2017, Mohawk expects to grow similarly to last year on a local basis with operating margins improving slightly, excluding acquisitions and intellectual property.
"This year we will absorb about $45 million in start-up manufacturing and related marketing expenses in addition to other cost inflation," he said. "Across the enterprise, we are investing to increase our sales growth by expanding our capacity."

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