Armstrong World Industries today reported a small drop in net profits for the fourth quarter but a sizable increase for the year.
For the quarter, net profits slid 1.2 percent to $8.4 million (14 cents a share) from $8.5 million (14 cents a share) in the 2011 quarter.
Sales dipped 1.6 percent to $612.8 million.
Read more: http://lancasteronline.com/article/local/816802_Armstrong-s-yearly-profit-climbs.html#ixzz2LOK0sAFf
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.
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