In the 4Q 2019, Armstrong Flooring's net sales decreased 8.1% to $141.3 million from $153.8 million in the 4Q 2018, including an adverse currency impact of 50 basis points. The decrease in net sales was due to unfavorable mix, volume, and price.
The net loss in the 4Q 2019 was $25.1 million, or diluted loss per share of $1.14, as compared to a net loss of $171 million, or diluted loss per share of $6.57, in the prior year quarter, which included a loss on disposal of discontinued operations of $153.8 million.
4Q 2019 adjusted EBITDA was ($4.3) million, as compared to $1.8 million in the prior year quarter. The decrease in adjusted EBITDA was primarily attributable to lower net sales and higher manufacturing costs, partially offset by benefits from improved raw material sourcing.
Michel Vermette, President and CEO, commented, “4Q results were softer year-over year, in line with our expectations. Moving into 2020, we have begun to execute our multi-year plan to expand, simplify and strengthen our business to generate stronger performance and augment the trajectory of our long-term profitability.”
For the full year 2019, net sales decreased 14% to $626.3 million as compared to $728.2 million in 2018. The decrease in net sales was primarily driven by unfavorable volumes, reflecting relative changes in distributor inventory levels compared to the prior year due to significant customer purchases in 2018 ahead of U.S. tariff increases.
Full year 2019 net loss was $58.5 million, or diluted loss per share of $2.42, as compared to net loss of $163 million, or diluted loss per share of $6.27, in the prior year. Adjusted net loss was $37.9 million, or adjusted diluted loss per share of $1.57, as compared to an adjusted net income of $5.8 million, or adjusted diluted earnings per share of $0.22, in the prior year.
Full year 2019 adjusted EBITDA was $24.4 million, as compared to $57.5 million in the prior year. The decrease in adjusted EBITDA was primarily attributable to lower net sales and increased input cost inflation pressure, partially offset by improved productivity.
Armstrong Flooring, Inc. is a global leader in the design and manufacture of innovative flooring solutions.
