American Woodmark posts strong Q3
American Woodmark announced third-quarter net sales rose by 26% compared with the third quarter of the prior fiscal year to $151.3 million. Net sales rose by 21% to $459.4 million during the nine-month period ended Jan. 31, 2013, compared with the prior fiscal year.
The company experienced sales gains in each of its sales channels during the third quarter, led by new construction sales growth of more than 50%. In the nine-month period American Woodmark generated net income excluding restructuring charges of $5.2 million, compared with a net loss of $8.5 million in the comparable period of the prior fiscal year.
American Woodmark generated net income excluding restructuring charges of $2.1 million during the third quarter of fiscal year 2013, compared with a net loss of $2.8 million in the third quarter of its prior fiscal year.
American Woodmark manufactures and distributes kitchen cabinets and vanities for the remodeling and new-home construction markets.