LANCASTER, Pa. (May 2)—Hampered by several external factors, Armstrong World Industries Inc.´s earnings fell 36 percent to $30.7 million for the first period ended March 31 from $48.3 million in the like period last year. Sales in the first quarter dipped slightly to $825.2 million from $829.1 million. Rising raw material costs, the strength of the U.S. dollar against other currencies and continued softness in the European construction market were the prime reasons for the drop, according to the company. However, Armstrong´s North American business units´ sales have improved, the firm said, pointing out that North American flooring sales were up 6 percent, wood products grew 16 percent and building products´ revenues rose 7 percent.
Armstrong´s net income, sales slide
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].