Norcraft sees business momentum
Manufacturer of kitchen and bathroom cabinetry Norcraft Companies reported sales and earnings gains for its second quarter.
The Eagan, Minnesota-based company posted net sales of $97.6 million, up 8.1% from the previous quarter. It also saw net income increase from $9.1 million to $11.2 million.
“We are encouraged by our continued improvement on multiple fronts with growth in our net sales, net income and cash flow providing momentum into the back half of 2014,” stated Mark Buller, chairman and CEO. “Our ongoing shift in product mix towards higher end products remains on track for all our divisions as a result of our strategic growth initiatives. Our improved Adjusted EBITDA reflects our vigilant focus on costs, with our net income further benefiting from this focus and our dramatic reduction in interest expense. We are pleased with our progress during the quarter and excited to continue leveraging our well-positioned platform to further drive profits and cash flow.”
The company went public late last year.