Interface reported net sales growth of 22.6% for the fourth quarter of 2021
Atlanta, Georgia, March 3, 2022 – Interface reported net revenue of $339.6 million for the fourth quarter of 2021, an increase of 22.6% from $276.9 million for the year previous year, with growth in all product categories.
The company reported net income of $21.8 million in the fourth quarter of 2021, an 11% increase from fourth quarter 2020 net income of $19.6 million.
Net sales for fiscal 2021 were $1,200.4 million, an 8.8% increase from $1,103.3 million the prior year. The prior year included 53 weeks of net sales and a strong pre-pandemic first quarter, compared to fiscal 2021 which included 52 weeks of net sales and a recovering trade market.
The company posted a net profit of $55.2 million in fiscal 2021, compared to a net loss of $71.9 million in fiscal 2020.
“We ended fiscal 2021 strong as demand for our unique carbon-neutral and carbon-negative products continues to grow. Fourth quarter orders increased 19% and net sales increased 23% over the prior year period, driven by strength in all product categories. I continue to be impressed with our team’s ability to weather a challenging year marked by inflation and supply chain headwinds. We have successfully mitigated the negative impact on margins and, as promised, we have significantly and sustainably reduced general and administrative expenses as a percentage of net revenue,” said Dan Hendrix, President and CEO of Interface. “Major wins throughout the year have advanced our Climate Take BackTM journey, solidifying our leadership position in carbon technologies. As companies increasingly adopt carbon reduction targets, we are in the best position in the industry to meet this growing and important market need. “