CALHOUN, Ga., July 16 /PRNewswire/ -- Mohawk Industries, Inc. announced its highest quarterly earnings per share attained by the company since its stock first publicly traded in 1992.
Diluted earnings per share (EPS) in the second quarter of 2001 were a record $0.88 per share or $46,466,000 in net earnings compared to $0.87 EPS in the second quarter of 2000 or $47,203,000 in net earnings. This improvement in EPS was the result of a higher gross profit as a percent of net sales and the stock repurchase program. Net sales for the quarter decreased 3% to $828,348,000 compared to $852,808,000 for the second quarter of 2000. The sales decrease is due to continued softness in the industry and ongoing general difficult economic conditions mostly offset by growth in the hard surface products.