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The Dixie's (DXYN) CEO Dan Frierson on Q4 2017 Results - Earnings Call Transcript

Mar. 01, 2018 12:54 PM ETThe Dixie Group, Inc. (DXYN)
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The Dixie Group, Inc. (NASDAQ:DXYN) Q4 2017 Results Earnings Conference Call March 1, 2018 10:00 AM ET


Dan Frierson - Chairman and CEO

Jon Faulkner - CFO


Samuel Darkatsh - Raymond James


Good day and welcome to the Dixie Group Inc. 2017 Earnings Conference Call. Today's call is being recorded.

At this time, for opening remarks and introductions, I would like to turn the call over to the Chairman and the Chief Executive officer, Dan Frierson. Please go ahead.

Dan Frierson

Thank you, Shawn. Welcome everyone. I have with me Jon Faulkner, our Chief Financial Officer, who you will hear from shortly. Our Safe Harbor statement is included by reference both to our website and press release.

On a comparable 52-week basis, our sales perform of $412 million, were up 5.2% compared to 2016. Our sales increase was led by residential business, which had a sales increase of 9.3% for the year and 12.3% for the fourth quarter on a comparable week basis.

Our commercial sales adjusted for the additional week in 2016 were up slightly for the year and down slightly for the quarter, which we believe was marginally better than the industry performed.

While we did improve our operational performances in 2017, the improvement was not at levels that is acceptable long-term. Therefore 2018 will be focused on continuing to improve our operating performance, which I will discuss further after John reviews our financial performance of last year.

Jon Faulkner

Thank you, Dan. Looking at ourselves for the year they were $412.5 million, 5.2% increase over sales of $397.5 million a year ago when adjusting for the 53 weeks in 2016 as compares to 52-weeks in 2017.

For the fourth quarter of 2017, our sales were $105.1 million, an increase of 8.1% as compared to the fourth quarter of

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