Cavalier boosts first-half profit on benefits from restructuring

Thu, 15 Feb 2018

By Rebecca Howard Feb. 15 (BusinessDesk) - Carpet maker Cavalier Corp reported an improved first-half net profit on better margins, after restructuring the business to reduce costs and introduce a more efficient manufacturing system. Net profit rose to $1 million, or 1.5 cents per share, in the six months ended Dec. 31, from $31,000 in the prior period. Revenue fell to $75.3 million from $84.3 million, reflecting reduced carpet sales in the first half due to market conditions as well as the materially lower wood prices which impacted the...

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