According to the promotional upholstery producer of American Furniture Mfg., Ms. ECRU, there is a 37.8% jump in third-quarter sales, based on a regulatory filing by former parent company Compass Diversified Holdings.
Compass reported that American’s sales totaled $39.1 million in the quarter ended Sept. 30, up from $28.4 million in last year’s third quarter.
On Oct. 5, publicly-traded Compass completed the sale of American to an investor group that includes members of the company’s management team. Compass said the sale price was $24.1 million.
American’s third-quarter operating income totaled $901,000, more than double the $401,000 recorded in last year’s third quarter.
For the nine months ended Sept. 30, the upholstery producer had sales of $122.4 million, an increase of 27.7% from $95.8 million in the first nine months of 2014.
Nine-month operating income totaled $4.13 million, up from $2.54 million in the first three quarters of last year.
This article was published on furnituretoday.com
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