Interface (TILE) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.32 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.29. The company posted revenue of $248.20 million in the period, compared to analysts expectations of $253.03 million. The company’s revenue was down -5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.
Many Wall Street Analysts have commented on Interface. Interface was Downgraded by Raymond James to ” Underperform” on Jun 24, 2016. Interface was Downgraded by Longbow to ” Neutral” on May 5, 2016.
Interface opened for trading at $16.69 and hit $18.45 on the upside on Thursday, eventually ending the session at $17.81, with a gain of 7.48% or 1.24 points. The heightened volatility saw the trading volume jump to 22,78,213 shares. Company has a market cap of $1,166 M.
In a different news, on Jul 14, 2016, Daniel T Hendrix (Chairman & CEO) sold 3,000 shares at $16.00 per share price. According to the SEC, on Jun 30, 2016, Jay Gould (COO) purchased 10,000 shares at $14.76 per share price. On Apr 5, 2016, Patrick C Lynch (Sr. Vice President & CFO) sold 1,500 shares at $18.22 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 Companys 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 Companys principal geographic markets are the Americas Europe and Asia-Pacific.