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The Dixie Group's CEO Discusses Q4 2010 Results - Earnings Call Transcript

Stocks in this article: DXYN

The Dixie Group, Inc (DXYN)

Q4 2010 Earnings Conference Call

March 09, 2011 11:00 am ET

Executives

Dan Frierson - Chairman and Chief Executive Officer

Jon Faulkner - Chief Financial Officer

Analysts

Keith Hughes - SunTrust

Arnold Brief - Goldsmith & Harris

Presentation

Operator

Good day and welcome to the Dixie Group Incorporation Fourth Quarter 2010 Conference Call. Today’s call is being recorded. At this time for opening remarks and introductions, I’d like to turn the call over to the Chairman and Chief Executive Officer, Dan Frierson. Please go ahead sir.

Dan Frierson - Chairman and Chief Executive Officer

Thank Ryan [ph]. Welcome everyone and I have with me today Jon Faulkner, our Chief Financial Officer. Our Safe Harbor statement is included by reference to our website and our press release.

Fortunately for Dixie, 2010 marked the beginning of improvement for the luxury carpet market. In the first nine months, our carpet sales were up more than 10% over the previous year while the industry was essentially flat. In the fourth quarter, this trend was even more pronounced with our carpet sales up 23% and the industry up only 1.3%.

Sales of all of our brands were up for the year and for the quarter. Both commercial carpet sales and residential sales were up over 20% in the fourth quarter. We believe our continuation of differentiated product offerings in the upper end of the market has helped position us for solid growth as the market improves. Obviously, the sales growth we experienced enabled us to operate our facilities at higher production rates, which lowered our costs and aided our profitability.

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