Profits Up 10.3% At Armstrong In Second Quarter

Armstrong World Industries today reported a 10.3 percent increase in second-quarter net profits, despite lower sales.

Net profits were $41.8 million (70 cents a share), up from $37.9 million (64 cents a share) in the second quarter of 2011.

Sales, however, fell 5.2 percent to $709.9 million from $748.6 million in the comparable year-ago period.

Although sales slid, Armstrong said it boosted profits by cutting manufacturing costs and reducing its selling, general and administrative expenses.

Read more: http://lancasteronline.com/article/local/699292_Profits-up-10-3–at-Armstrong-in-second-quarter.html#ixzz227UDFhit

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