In the 2Q 2018 Armstrong Flooring’s net sales increased 2.9% to $306 million as compared to $297.3 million in the 2Q 2017, primarily due to higher Resilient segment net sales, as the company said in the press release received by Lesprom Network.
2Q 2018 net income was $10.5 million, or diluted earnings per share of $0.40, as compared to net income of $5.4 million, or diluted earnings per share of $0.20, in the prior year quarter. Adjusted net income was $12.2 million, or adjusted diluted earnings per share of $0.47, as compared to an adjusted net income of $7.5 million, or adjusted diluted earnings per share of $0.27, in the prior year quarter.
2Q 2018 adjusted EBITDA was $29.6 million, as compared to $25.5 million in the prior year quarter. The increase in adjusted EBITDA was primarily due to higher net sales, stronger productivity and lower manufacturing costs, which more than offset the impact of significantly higher input costs.
Armstrong Flooring, Inc. is North America’s largest producer of resilient and wood flooring products.
