NEW YORK (TheStreet) -- Armstrong World Industries (AWI) - Get Armstrong World Industries, Inc. Report posted its 2015 fourth quarter results before Monday's opening bell, which missed analysts' expectations.
The Lancaster, PA-based flooring products and ceiling systems manufacturer reported earnings of 27 cents per share, lower than analysts' estimates for earnings of 33 cents per share.
Revenue for the period was $577.4 million, which fell short of Wall Street's expectations of $580.26 million
"Operating income declined compared to the prior year period driven by costs associated with the previously announced separation of the flooring business, increased SG&A expense to support go-to-market initiatives in the Americas Resilient business, higher non-cash U.S. pension expense, higher manufacturing costs and unfavorable price and mix," the company said in a statement.
Fourth quarter operating income was down by 76% over the 2014 period.
The company is targeting April 1 as the closing date for the separation of its flooring and ceilings businesses.
Shares of Armstrong World Industries closed lower by 0.02% to $40.56 on Friday.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and increase in net income.
As a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AWI