Interface (TILE) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Interface (TILE) reported quarterly earnings results on Wednesday, Apr-27-2016. The company reported $0.20 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.21. The company posted revenue of $222.60 million in the period, compared to analysts expectations of $224.90 million. The company’s revenue was down -6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Interface. Interface was Downgraded by Stifel to ” Hold” on Apr 27, 2016. Barclays Downgraded Interface on Apr 7, 2016 to ” Underweight”, Price Target of the shares are set at $17.Shares were Reiterated by Stifel on Feb 26, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $24 .

Interface opened for trading at $17.96 and hit $18.34 on the upside on Friday, eventually ending the session at $18.3, with a gain of 2.29% or 0.41 points. The heightened volatility saw the trading volume jump to 4,76,631 shares. Company has a market cap of $1,206 M.

In a different news, on Apr 5, 2016, Patrick C Lynch (Sr. Vice President & CFO) sold 1,500 shares at $18.22 per share price. According to the SEC, on Mar 21, 2016, Raymond S Willoch (Sr. Vice President) sold 15,000 shares at $17.15 per share price. On Dec 3, 2015, John R Wells (Sr. Vice President) sold 4,445 shares at $19.87 per share price, according to the Form-4 filing with the securities and exchange commission.

Interface Inc. is engaged in design production and sales of modular carpet also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company’s revenues are derived from sales of floorcovering products primarily modular carpet. The Company distributes its product through two primary channels: direct sales to end users and indirect sales through independent contractors or distributors. The Company sells an antimicrobial chemical compound under the trademark Intersept that the Company incorporates in all of its modular carpet products. The Company manufactures carpet at two locations in the United States and at facilities in the Netherlands the United Kingdom Thailand China and Australia. The Company’s principal geographic markets are the Americas Europe and Asia-Pacific.


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