Sales increase 20% at American Woodmark

In its first quarter ended July 31, the Winchester, Va.-based company pointed to growth in both its remodel and new construction business.

The company's net sales increased 20% to $131.2 million in the quarter. However, it still posted a net loss of $2.7 million. In the first quarter last year, American Woodmark's net loss was $3.4 million. 

Gross profit for the first quarter of fiscal year 2012 was 14.0% of net sales, compared with 13.2% in the first quarter of the prior fiscal year.  

The company said the improvement in gross profit margin reflected the impact of increased sales volume on direct labor and manufacturing overhead costs. Those benefits were offset, however, by higher sales promotional expenses and higher materials and fuel costs.