The Dixie Group Inc (OTCPK:DXYN)
$ 0.7 0.018 (2.64%) Market Cap: 10.68 Mil Enterprise Value: 122.85 Mil PE Ratio: 0 PB Ratio: 0.46 GF Score: 44/100
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Q4 2022 Dixie Group Inc Earnings Call Transcript

Mar 02, 2023 / 03:00PM GMT
Release Date Price: $0.8722 (-5.71%)
Daniel K. Frierson
The Dixie Group, Inc. - Chairman & CEO

And welcome, everyone, to our fourth quarter and year-end 2022 conference call. I have with me Allen Danzey, our Chief Financial Officer, who will also be presenting. Our safe harbor statement is included by reference both to our website and press release.

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 $33.4 million loss from continuing operations. The plan for consolidation of our East Coast facilities has resulted in a 24% reduction of associates and is expected to result in estimated savings of over $25 million.

At this time, Allen will review our financial results, after which I will have additional comments. Allen?

Allen L. Danzey
The Dixie Group, Inc. - VP & CFO

Thank you, Dan. Our financial results for the 2022 fiscal year reflected the large unfavorable impact on our inventory costs in the first half of the year, which was

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