Dixie Group reports FY2022 net loss of $35.1M; sales down 11% to $304M

DIXIE GROUP INC

Net sales $303.6M vs $341.2M in 2021; net loss $35.1M vs net income $1.6M.
Loss from continuing ops $33.4M; gross margin fell to 17.7% from 22.6%.
Debt increased $22.2M to fund operations and restructuring; borrowing availability $15.3M.
East coast consolidation cut 24% of associates; expects annual savings >$25M.
Lost ~$23M sales from largest mass merchant customer; order entry in early 2023 less than 5% below prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DIXIE GROUP INC reported the year ended December 31, 2022 results: revenue $304 million, net income $35.1 million.

Period: the year ended December 31, 2022
Revenue: $304 million
Net income: $35.1 million
Result: reported results

Exact text from the filing

Net sales for the fiscal year of 2022 were $304 million, or 11% below the net sales of $341 million in the fiscal year of 2021. • The net loss for the fiscal year end 2022 was $35.1 million with a $33.4 million loss from continuing operations.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DIXIE GROUP INC reported the fourth quarter of 2022 results: revenue $70,535,000, net income $18,454,000.

Period: the fourth quarter of 2022
Revenue: $70,535,000
Net income: $18,454,000
Result: reported results

Exact text from the filing

Net sales in the fourth quarter of 2022 were $70,535,000 compared to $89,225,000 in the fourth quarter of the prior year. The net loss on the fourth quarter of 2022 was $18,454,000 with a loss of $17,681,000 from continuing operations.

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Source: SEC EDGAR

accession 0000029332-23-000010

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