Woodmark Reports Second Quarter Results

Winchester, VA — American Woodmark Corp., the Winchester, VA-based manufacturer of cabinets and vanities, has reported a 2% decline in net sales in the second quarter of the company’s 2007 fiscal year, ended Oct. 31, 2006, compared to the same time period a year earlier.

The publicly traded American Woodmark reported second-quarter sales of $210.8 million, noting that sales in the remodeling sector grew at a double-digit rate in the first six months of fiscal 2007, while sales related to new construction fell by a high single-digit percent.

Net income for the three-month period was $9.2 million, up significantly from the $6.2 million posted in the same period a year earlier, American Woodmark said.

The company cited improved gross margins resulting from the favorable impact of corporate initiatives and a transition away from the sale of low-margin products.