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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Q1 2023 Dixie Group Inc Earnings Call Transcript

May 04, 2023 / 05:00PM GMT
Release Date Price: $0.78 (+11.11%)
Operator

Good day, and welcome to The Dixie Group, Inc. 2023 First Quarter 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 Chief Executive Officer, Dan Frierson. Please go ahead.

Daniel K. Frierson
The Dixie Group, Inc. - Chairman & CEO

Thank you, Doug, and welcome, everybody, to our first quarter conference call. I have with me Allen Danzey, our CFO, who will also be participating. As a reminder, our safe harbor statement is included by reference both to our website and the press release.

The company had net sales of approximately $67 million as compared to $77.5 million in the same quarter of last year. Operating income was $300,000 compared to a loss of $2.247 million in the first quarter of '22. The operating income in 2023 included expenses totaling $1.050 million related to facility consolidations. Our results from the first quarter reflected the positive impact of the restructuring efforts we initiated in 2022. Although net

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