Despite 3rd quarter earnings in excess of $34 million, Calhoun, Georgia based Mohawk Industries said that they have lost money this year.

Net sales for the first three quarters of 2009 were down 25% from 2008.  Analyst contribute the loss to the downturn in the housing industry.

Mohawk says that their net assets are still in good shape with their balance sheet showing $300 million in cash.

The company said that their net loss through the 3rd quarter was $25 million.