Interface Q4 Adj. EPS Top Estimates; Guides FY20 Adj. EPS In Line - Quick Facts

(RTTNews) - Commercial flooring company Interface, Inc. (TILE) announced Wednesday that net income for the fourth quarter was $16.43 million or $0.28 per share, higher than $6.40 million or $0.11 per share in the prior-year quarter.

Adjusted net income for the quarter was $0.46 per share, compared to or $0.41 per share in the year-ago quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 1 percent to $339.48 million from $337.06 million in the same quarter last year. Organic sales were up 2 percent with carpet tile and LVT contributing equally to growth. Analysts were looking for revenues of $344.63 million for the quarter.

Looking ahead to fiscal 2020, Interface is targeting adjusted earnings in a range of $1.60 to $1.70 per share on organic sales growth of 2 to 4 percent. The Street is looking for earnings of $1.69 per share on revenue growth of 2.3 percent to $1.38 billion for the quarter.