WINCHESTER, VA — Kitchen cabinet and vanity manufacturer American Woodmark Corp. announced fiscal year 2009 first quarter results on Aug. 20. Net sales declined 16%. Net income was $156,000 compared with $5,104,000 in the first quarter of 2008. Gross profit was 15.9% of sales compared to 20.7% in first quarter 2008. The company blames the decline in gross profit margin on inefficiencies in overhead and freight costs stemming from lower sales volumes, as well as the impact of rising fuel prices upon freight and materials costs.
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