Calhoun`s Mohawk Industries watched its earnings for the first quarter boom. The carpet and tile maker posted a net income of $21 million earnings of 30 cents a share. That number is compared to the net loss of $106 million during the first quarter of 2009.
The results for the first quarter of 2010 included a $4 million restructuring charge related to manufacturing infrastructure.
First-quarter sales rose almost 12 percent to $1.35 billion
`Our earnings were higher than expected as the economic cycle has bottomed and we had more favorable cost reductions and foreign exchange,` said Jeffrey S. Lorberbaum, chairman and CEO.
Coosa Valley News