• Larry Thomas

American Furniture posts profit as sales inch up 1.7%

ECRU, Miss. — Upholstery producer American Furniture Mfg. reported a first-quarter sales increase of 1.7% as the company reversed a net loss from last year's first quarter.

The financial report, included in a Securities and Exchange Commission filing by parent company Compass Diversified Holdings, also showed that American recorded an operating profit of $573,000, nearly double the operating profit of $273,000 in the same quarter last year.

Net income totaled $94,000, which reversed a net loss of $177,000 in the first quarter of 2012.

Net sales for the quarter were $30.82 million, up from $30.29 million in the comparable quarter. Compass said the sales increase was due largely to the introduction of a power motion upholstery line. Stationary upholstery sales were flat.

Compass hired a new president and senior management team at American last fall, and American executives said a revamped product line received overwhelmingly positive reviews at last month's High Point Market.

The company will begin shipping the new products in late summer and early fall.

Larry ThomasLarry Thomas | News Editor, Furniture Today
lthomas@furnituretoday.com

Hi, I'm Larry Thomas, news editor of Furniture/Today. Since joining the staff in 1989, I’ve written about topics ranging from wicker chairs to proxy battles at public companies. In my new post as news editor, I oversee the news coverage for both the print edition and furnituretoday.com. I look forward to discussing key industry issues in this forum, and I welcome your thoughts and opinions.

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