Armstrong sales down 18% for 2009
Lancaster, Pa.-based floor, ceiling and cabinet manufacturer Armstrong World Industries posted a net loss of $3.8 million for the fourth quarter ended Dec. 31, compared with a loss of $25.5 million for the fourth quarter in 2008. Sales were $653 million, down 7.82% from $708.4 million as reported for the year-ago period.
For the full year, the company reported a net income of $77.7 million, down 4.07% from $81 million as reported for 2008. Sales were $2.78 billion, down 18.06% from $3.39 billion.
Looking forward, the company said it expects 2010 sales to be $2.65 billion to $2.85 billion and adjusted operating income to be in the range of $135 million and $165 million.