American Woodmark swings to a profit

Winchester, Va.-based American Woodmark Corp. saw sales rise 26% in the fourth quarter, with double-digit gains in each of its sales channels. 

Net sales for the quarter ended April 30 reached $171.1 million, as it swung to a profit of  $5.2 million, compared with a fourth-quarter loss of $6.0 million in 2012.

The company manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Its products are sold on a national basis directly to home centers, major builders and through a network of independent distributors.

Boosted by new construction sales and an improving housing industry, net sales rose by 22% to $630.4 million during the company's entire fiscal year 2013. The company generated net income for the entire fiscal year 2013 of $9.8 million, compared with a net loss in fiscal year 2012 of $20.8 million.

The company said its performance was favorably impacted by reductions in labor and overhead costs ass