Woodmark Posts Dips In Fiscal First Quarter

Winchester, VA — American Woodmark Corp., the publicly traded cabinet manufacturer based here, saw sales and income decline sharply in the first quarter of the company’s fiscal year 2009, ended on July 31, 2008.

According to American Woodmark, which has been impacted heavily by declines in the market for new construction, net sales declined 16%, to $139.2 million, compared with the first quarter of the prior fiscal year. Net income for the three-month period was $156,000, compared with $5.1 million in the prior year’s first quarter.

Gross profit for the fiscal first quarter was 15.9% of sales, compared with 20.7% in the first quarter of the prior fiscal year.

Loading