Woodmark Posts Record Results In 4th Quarter

Woodmark Posts Record Results In 4th Quarter

Winchester, VA American Woodmark Corp. posted record sales and income in the company's fiscal fourth quarter ended April 30, 2001, the company announced.

The publicly traded kitchen and bath cabinet manufacturer, based here, said that net sales for the quarter rose 10% from the same period a year earlier, to a record $109.6 million. Net income for the quarter increased 119% from the prior year, to a record $6.7 million, the company added.

For the fiscal year, net sales were $416.7 million, up 10% from fiscal 2000, while net income was $17.4 million, up 8.3% from a year earlier.
Gross margins also improved from the previous year, from 24.9% in fiscal 2000 to 28.2% in fiscal 2001.

The current economic outlook "remains uncertain," with new construction in relevant markets expected to remain "solid" and remodeling activity expected to vary by region, the company said.