American Woodmark Corporation (NASDAQ:AMWD) gained ground Tuesday morning, as investors perused its fourth-quarter financial numbers.
The company, out of Winchester, Va., announced net sales for the fourth fiscal quarter increased 0.4% to $407 million compared with the same quarter of the prior fiscal year. Net sales for the current fiscal year increased 32% to $1,645 million from the prior fiscal year.
Net income was $22.0 million ($1.30 per diluted share) for the fourth quarter of the current fiscal year compared with $19.1 million ($1.08 per diluted share) in the same quarter of the prior fiscal year.
Adjusted EPS per diluted share was $1.87 for the fourth quarter of the current fiscal year compared with $1.64 in the same quarter of the prior fiscal year.
Adjusted EBITDA for the fourth fiscal quarter was $63.8 million, or 15.7% of net sales, compared to $65.3 million, or 16.1% of net sales, for the same quarter of the prior fiscal year.
"Volatility by channel continued into our fourth fiscal quarter," said CEO Cary Dunston. "We experienced solid growth in the builder channel, and independent dealer and distributor channel, however, the home center channel proved to be challenging.
"Despite the lower growth and market cost headwinds, we continued to gain cost leverage through our integration work and are pleased with our adjusted EBITDA performance. Despite the quarter-to-quarter uncertainty in the market, we remain very confident in the underlying industry fundamentals and our ability to grow in all channels."
Shares gained $2.01, or 2.4%, to $87.40
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