The Dixie Group Inc (OTCPK:DXYN)
$ 0.682 0.001 (0.15%) Market Cap: 10.41 Mil Enterprise Value: 122.85 Mil PE Ratio: 0 PB Ratio: 0.45 GF Score: 44/100
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Q2 2024 Dixie Group Inc Earnings Call Transcript

Aug 08, 2024 / 02:00PM GMT
Release Date Price: $0.591 (+0.15%)
Daniel Frierson
Dixie Group Inc - Chairman of the Board, Chief Executive Officer

I would like to welcome everyone to our Second Quarter Conference Call. I have with me Allen Danzey, our CFO, who will be participating. Our Safe Harbor statement is included by reference to our website and our press release.

The good news from our second quarter is that we returned to profitability in a very challenging business environment. I'd like to go through some of the highlights of the quarter before Allen goes into more detail on our financial results.

Net sales in the second quarter of 2024 were $70.5 million compared to $74 million in the same period of the prior year, down approximately 4.7%. Despite that, the gross profit margin for the three months of the second quarter was 28.1% of net sales, compared to 26.7% in the second quarter of 2023.

Operating income in the second quarter of 2024 was $2.3 million, compared to $300,000 in the second quarter of the prior year. The company had a net income from continuing operations of $700,000 in the second quarter of 2024, compared to a net

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